BEIRUT, Lebanon, Dec. 20 (UPI) -- The political crisis gripping Lebanon has cast its shadow on the country's ailing economy, already reeling under a staggering public debt of $41 billion.
The Lebanese Economic Organizations sounded the alarm at a press conference in Beirut Wednesday, as Arab League Secretary-General Amr Mousa resumed his marathon talks with rival political factions in an attempt to settle the persistent crisis.
Adnan Kassar, head of the organizations, warned the deteriorating economic situation was further aggravated by the ongoing political crisis pitting the anti-Syria government of Prime Minister Fouad Siniora and the Hezbollah-led opposition camp.
"A dangerous decline is threatening Lebanon's economy at present and in the future... The national structure is jeopardized at all levels; economic, social and political," Kassar said, warning that all the Lebanese will come out losers from the persisting political crisis.
"The economy can no longer put up with or pay for political differences," Kassar added. He called on all politicians to spare and salvage the economy which can no longer take the brunt of their disputes.
Kassar also called for holding an economic conference early next year to draft a socio-economic policy to deal with economic and social problems through the introduction of conciliatory reforms.
In the meantime, Mousa declared that his consultations with rival Lebanese politicians are "going well," pointing at certain understandings that need to be developed and clarified.
Mousa said he will travel to Damascus on Thursday to win Syria's support for the Arab League initiative for settling Lebanon's crisis.
The Hezbollah-led camp, which includes the Shiite Amal Movement of Parliament Speaker Nabih Berri and the Free Patriotic Movement of Christian Gen. Michel Aoun, have been staging a sit-in since Dec. 1 to press for Siniora's resignation or the formation of a national unity government.
