Lebanon’s Bank Freeze Is A Syrian Loss
With the Lebanese banks running out of currency, Syria is also on the receiving end With cash crunch in Lebanese Banks, Syrian economy is under added pressure Syria cannot avoid facing a ripple effect to a situation starting in the face of Lebanon. Both economies are interconnected and this has never been as obvious as it has become now. Strangely so, while the civil war broke in Syria in 2011, businessmen back home continue to use their transferred funds to do business through Lebanese banks. The Lebanese pound is escalating and has come to 1500 to a US dollar. Traders are giving it away for 2000 to a US dollar. So liquid cash has gone dry and so is the Syrian population feeling the suffocation. They could avoid sanctions and do trade. The link became more prominent and redefined the previous link where Syrian labor is known to have rebuild Lebanon till 1990. Syrians source their fuel through Lebanese ports, another reason of worry, as the latter is in a tuss...