HEZBOLLAH TO JOIN REVIEW OF CORRUPT OFFICIALS

▶ Group leader says Lebanon’s judicial inquiry ‘should start with us’

Hezbollah will co-operate with Lebanon’s judiciary on any corruption investigation, the group’s leader said.

In a televised address on the country’s 13th day without a functioning government, and amid huge street protests, Hassan Nasrallah said Hezbollah would respect the judiciary in carrying out corruption investigations into its members.

“If there is any case related to a Hezbollah official, I urge you to start with us, and I guarantee Hezbollah’s respect,” Nasrallah said.

The group leader urged the judiciary, which has been a target of criticism in the month-long street protests, to rebel against powerful political forces.

“We need a judiciary that is brave, strong and does not bow to political pressure,” he said.

The unrest raging across Lebanon erupted after a build-up of anger at rising living costs and political leaders accused of steering the country towards economic collapse.

The unrelenting fervour of the protesters led to the resignation of Prime Minister Saad Hariri in an attempt to bring calm. He remains in a caretaker capacity, but the lack of progress on forming a new government has only fanned the flames of protest.

From the capital Beirut to Sidon and Tyre in the south up to Tripoli in the north, protesters brandished Lebanese national flags, demanding that the formation of a new government be accelerated.

They insist any incoming Cabinet be comprised of technocrats and be independent of established political parties.

“We will not leave the streets before our demands are totally satisfied,” shouted one young protester on Sunday. “We are more determined than ever,” she said.

Parliament Speaker Nabih Berri suggested yesterday that a new Cabinet should include representatives from the protest movement filling the streets of cities across the country.

“The popular movement must be represented in the Cabinet ... the true movement that has demands that we all believe in ... not the movement that insults people,” Mr Berri told local news service Al Joumhouria.

Nasrallah said Hezbollah will “leave the door open” on talks to form a new government.

But Mr Berri again delayed a session of the Lebanese parliament, scheduled for today, citing safety concerns as protesters blocked roads around the Beirut parliament building, causing further delays to a process he said needed to be “quick, quick, quick” to deal with the economic woes facing the country.

“Everyone must be convinced that an economic [crisis] is hanging above our heads,” he said, after postponing the session for a week.

Meanwhile, the governor of Lebanon’s Central Bank sought to calm nerves amid the worsening economic and financial crisis, pledging to work to safeguard the stability of the national currency and protect bank deposits.

Riad Salameh said that the bank will keep defending the currency peg, which has been stable since 1997.

He said there would not be any capital controls or a haircut on customer’s bank deposits, in which the state takes a cut of their money to cover its debts.

As he spoke, dozens of protesters outside the bank blocked Hamra Street, chanting “down with the rule of the banks”.

Lebanon’s financial troubles have worsened since mass protests erupted nationwide last month, paralysing the country and keeping banks closed for two weeks. Depositors rushed to withdraw their money when the banks reopened last week, with the country’s lenders imposing capital controls.

“The Central Bank aims to protect the stability of the pound and we have the capability to do that,” Mr Salameh said, acknowledging at the same time the difference in price at currency exchange shops. He described it as a phenomenon that will go away when demand diminishes. Mr Salameh said the central bank had reserves of $38 billion (Dh139.5bn) – including $30bn “that we can use immediately”.

Meanwhile, the caretaker education minister said schools and universities would close today “to preserve the safety of students” and out of respect for their right to demonstrate.