Berri ‘Praises’ Diab’s Announcement on Eurobonds
Speaker Nabih Berri described as “positive” the announcement of PM Hassan Diab late last week, but noted that he should have dwelt more on the problematic issue of electricity, al-Joumhouria daily reported on Monday.
On Saturday, Diab announced that Lebanon will default on its Eurobond debt for the first time and seek out restructuring agreements amid a spiralling financial crisis that has hit foreign currency reserves.
Berri, quoted as telling his visitors, that if Lebanon “had taken precautionary measures before that, things would not have reached what they are today,” he said.
On the government’s intention to restructure its debt through negotiations, the Speaker said: “The PM must put this declaration into practical steps in no more than one month and a half, otherwise it will have negative repercussions on the government and the country as a whole.”
Diab also said Saturday that the “Lebanese state will seek to restructure its debts, in a manner consistent with the national interest, by entering into fair negotiations with all creditors”.
Berri concluded and stressed the need to kick off urgent reforms to fortify the country economically and financially.
Source: Naharnet
| Copyright © 2012 Naharnet.com. All Rights Reserved. | https://naharnet.com/stories/en/269923 |