News Snapshot:
In its bid for IMF support, Lebanon must address a question it has evaded since the economy imploded two years ago: how should it distribute the huge losses caused by its financial collapse? Till now, the answer has been brutally simple: ordinary Lebanese have paid the price as they watched savings evaporate, the currency crumble and basic goods disappear from the shelves. When a plan was drawn up last year that identified a $90bn hole in the financial system, it was shot down by banks which complained it made them foot too much of the bill and by the ruling...
