Lebanon’s economic crisis endures, as does the EU’s ‘fear’ of refugees

Analysts question whether EU grants to Lebanon have anything to do with getting its economy out of the hole it is in.

Lebanon and the Lebanese people are still suffering a debilitating economic crisis that has gripped the country since 2019.

The pound has plummeted to less than 10 percent of its value before the crisis, savings have disappeared both in terms of exchange rates and actual deposits as banks announce they have no cash to release, and more and more people worry about simply staying alive.

About 80 percent of the population is below the poverty line and 36 percent is below the “extreme poverty line”, living on less than $2.15 a day.

A recent deal worth 1 billion euros ($1.06bn) with the European Union may have been seen as a godsend in such circumstances, but it has brought to the fore even more problems.

EU grants over the past three years are not purely to help Lebanon’s economy.