France Says Lebanese Depositors May Not Get All Their Cash, Minutes Show

A French official has said it might be difficult for Lebanon’s banks to prevent savers losing some of their deposits, according to the minutes of a meeting in which France outlined steps to help the crippled banking industry, Reuters reported. The comments were made during Sept. 10 talks in Paris between senior French officials and a delegation from the Association of Banks in Lebanon (ABL). Reuters reviewed a copy of the minutes, marked confidential. France has taken the lead in international efforts to push Lebanon’s fractious politicians to implement reforms needed to attract aid and ease a crisis that has paralysed the banking sector, shutting depositors out of most of their funds. Read more