CWN - The bishops of the Maronite Catholic Church have issued a warning that Lebanon risks an “economic collapse,” akin to the crises that has struck Greece.
The Maronite bishops said that the country’s massive debt problem, aggravated by an energy crisis, threatens to paralyze the economic system. The bishops encouraged bankers to be prudent in extending credit to the government, taking care not to dry up the credit necessary for the continued functioning of the private economy.
The bishops issued their statement of concern just weeks before the scheduled visit of Pope Benedict XVI to Lebanon. That visit has already raised some concerns because of fears about the nation's security, tied to the escalating violence in neighboring Syria.
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