It doesn’t happen every day to witness a small country which wars , instability and conflicts were always present in it, to overcome difficulties such as the economic crisis. Lebanon was booming while the world was melting , people are losing their jobs and companies and banks are announcing their bankruptcy. 2008 was one of the best years in the Lebanese economy. Riad Salameh , Lebanon’s Chief banker , says that he saw it coming , he prepared the banks and urged them to get out of the international investments. The reason why the small banks didn’t fall in the trap was due to the fact that they have emerged with big banks. Lebanon’s conservative policies kept the Lebanese economy on the track because these policies and the whole system are immune to wars, instability and political assassinations. To sum up , Riad Salemeh our Chief banker , who was elected the world’s best chief banker last year, did a very good and balanced job to keep Lebanon away from additional problems.
References :
- Natalia, A. (2008, 5 December). Lebanon 'immune' to financial crisis. Retrieved 06 November ,2009, from News.bbc.co.uk
http://news.bbc.co.uk/2/hi/middle_east/7764657.stm
- Image Retrieved from : http://newsimg.bbc.co.uk/media/images/45268000/jpg/_45268435_lebapbank466.jpg
very interesting post especially that it made me know the wonderful action our Chief Banker Riad Salameh did in saving Lebanon from a real nightmare. No one could have ever imagined that Lebanon- with all the political and difficult economic situations- could really succeed in overcoming this crisis while other big countries couldn't.
ReplyDeletevery interesting post , and this shows that even through the turmoil and issues that plague ur country , in the end , we have an inner strength to stay firm. very nice post indeed.
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