THE OBSERVER: A new failed state in the Middle East would spell chaos for us all
Amid so much trouble around the world, the crisis in Lebanon has received relatively little attention, especially from British politicians and media. This is a serious oversight. It’s not inconceivable Lebanon could soon become a “failed state” on a par with Libya or Yemen. That would be a disaster for its people, but also, as recent history shows, for the region, Europe and the UK.
The crisis has many aspects. The most pressing is the mounting human cost. The chronic devaluation of the Lebanese pound – it has lost about 90% of its value in the past 18 months – is taking a terrible toll on ordinary families. About 30% of Lebanese children go to bed hungry, the UN says. Most households are short of food. At least half the population has slipped into poverty.
Resulting hyperinflation, caused by adverse trading conditions during the pandemic but also by grossly irresponsible financial mismanagement by Lebanon’s politicians and bankers, means subsidies of essential foodstuffs, medicine and fuel no longer cover their true cost. People with deadly diseases such as diabetes or heart conditions cannot get the help they need. » | Observer editorial | Sunday, July 25, 2021
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