Paris II : appeasing the axis of Evil ! ! !

Prosecutors indicted Thursday 10 members of the Free Patriotic Movement (FPM), which is loyal to former Army Commander Michel Aoun, for demonstrating without a license.
The men, who face up to three years in jail, were also accused of "shouting slogans that undermine the country’s security and stability."
The 10 were accused of staging a pro-Aoun demonstration on Aug. 10, 2001, and "shouting slogans calling for Syria’s withdrawal from Lebanon."
They were reported to have confessed to being involved in promoting the FPM, which is "opposed to the state’s policies." They also allegedly confessed to taking part in a protest in front of the Justice Palace on Aug. 9, 2001. They are to face a criminal court in Baabda. (The Daily Star of Nov.8.2002)

On the 23rd of November , Paris will be the venue of a gathering of a prestigious group of nations which will put together a rescue package to bail out Lebanon. President Chirac of France is the declared godfather of this much acclaimed meeting . President Chirac’s strong commitment and involvement has of course nothing to do with the historical and special relationship between France and Lebanon , an ex-protectorate of France , it is rather to be attributed to the special personal relationship he has with the Saudi and Syrian regimes which was nurtured over the years through brokerage efforts of Sheikh R.Hariri , the naturalized Saudi billionnaire and Saudi / Syrian appointed Prime Minister of Lebanon.

The big news , though , is the US acquiescence to the event . AFP reported that the US state department ‘s condition was a commitment from Sheikh Hariri to rein in the Hizbollah and to reach a peaceful accord with Israel over the Wazzani water dispute. As expected , P.M.Hariri denied such allegations with unconvincing arguments .

Mismanagement , financial excesses and profiteering by Mr Hariri & Co. burdened Lebanon with a ballooning debt exceeding 30 billion Us doll by the latest estimate . Hariri’s successive governments and the Syrian occupier plundered unabatedly and methodically Lebanon’s financial resources over the last decade.By the last estimate ,Lebanon’s accumulated debt is approaching 180% of the country’s GNP . Servicing this debt has been crippling the national economy and impoverishing the Lebanese hard working classes.Suffice it to point out that the totality of the Government’s gross revenues is asorbed by the debt servicing burden.Recurring budget deficits , questionable « black boxes funding » and funneling of funds to finance the Syrian biological and chemical warfare efforts has wrecked havoc with Lebanon’s international financial standing and capacity to promote local economic growth and attract foreign investment capital. Lebanon’s financial state is terminally ill today. Lebanon has been admitted to the financial intensive care unit of the ParisII gathering .

Chirac,Hariri and their jetset entourage have succeeded in preselling the attendees of ParisII a debt rescue package consisting of an array of financial commitments in the form of loan guarantees , deposit commitments in Lebanon’s Central Bank ,participations in private placements and /or Treasury bills and notes etc… In other words ,the rescue package will help Lebanon reschedule some 7 billion dollars of short term debt contracted at prohibitevely high interest rates into longer term maturities at todays prevailing low market rates . The Lebanese Government estimates that some 300 million dollars would be knocked off next year’s total debt servicing burden and would thus trigger domestically a downward interest rates’ trend. The ParisII gathering was originally dubbed a donor nations’ gathering  : The Saudis who are Hariri’s sponsors were supposed to provide with other Arab Gulf countries soft loans with very long maturities at subsidized low interest rates. It turned out finally and , as expected , that the rich Arab countries backed off from their original commitment. It seems obvious that they are rather frugal when it comes to financing a country they helped to dismantle and they are generous when it comes to financing madrassas and mosques instead. One thing is for sure though : We are promised a lot of celebration and fireworks by Prime minister Hariri and his boys the day after the gathering. Why ? well , they will be celebrating business as usual ! ! ! 

The question is What next ?

Syria will be having a shot in the arm . Syria desperately needs US dollars flows to finance its program of WEAPONS OF MASS DESTRUCTION . Syria needs Lebanon’s financial blood . Chirac , Hariri & Co obliged with Paris II . Syria will stay in business . Some Paris II attendees like little Belgium will realise sooner than later that Hariri’s promises to offer them a share in the imminent and lucrative cell phone privatisation were nothing more than promises written in the sand . Iran has parked with Hizbollah two billion US doll to participate in Lebanon’s Cell phone privatisation bidding . The Saudis will « pump the jam » through Hariri & co. Paris II will prove to be a fallacy . Hariri & Co , is buying time , so is Syria and other axis of evil .