by reuters -- A majority of Lebanese Parliament members oppose paying looming Eurobond maturities, even if that leads to default, Parliament Speaker Nabih Berri said on Wednesday. The announcement compounded doubts over whether the heavily indebted country will meet a March 9 repayment deadline. Lebanon is facing an unprecedented economic and financial crisis, which came to a head last year as capital inflows slowed and protests erupted against the ruling elite. Its next debt maturity is a $1.2bn Eurobond due on March 9.

Senior sources close to two of the main parties that back the government - the powerful Hezbollah, and Berri's Amal Movement - told Reuters news agency that the government was expected to announce a decision not to pay on Friday or Saturday and enter negotiations with bondholders. A source close to the other main backer of the government - the Free Patriotic Movement, founded by President Michel Aoun - said such a declaration may happen unless foreign bondholders made a good offer in time. Berri, one of Lebanon's most influential leaders, made his comments at a weekly meeting of members of Parliament. "We are with any measure the government takes apart from paying," Ali Bazzi, a lawmaker from Berri's parliamentary bloc, cited him as saying.

by naharnet.com — The Lebanese Embassy in Rome called in a statement on all Lebanese nationals in Italy to exercise caution and …

by arabnews.com — Najia Houssari — BEIRUT: Lebanese University President Fouad Ayoub has apologized to Chinese students for “any abuse or bullying …

by arabnews.com -- BEIRUT: Campaigners in Lebanon will gather at Beirut’s Press Club on Wednesday morning to unveil a petition that calls on the UN to create an international commission to investigate and prevent political corruption. It has been signed by number of former ministers, former and current MPs, representatives of non-governmental organizations, and intellectuals. Toni Nissi, the president of the International Lebanese Committee for UN Security Council Resolution 1559, a pro-democracy NGO, said that there have been many attempts by campaigners to clean up politics in Lebanon over the years, including lobbying for international resolutions to be issued and implemented.

“The crisis is due to the high levels of corruption and the lack of leadership skills among Lebanese politicians,” said Nissi, “It is impossible to have a stable economy when the public sector supplies 65 percent of the jobs. How can the taxes paid by the 35 percent working in the private sector be able to pay the salaries of the 65 percent plus all the country’s expenses, with all the ongoing corruption?” Given that politicians from the governing parties continue to exert full control over the implementation of laws in Lebanon, and rarely commit to the implementation of UN resolutions and decisions, including UNSCR 1559, some might be skeptical about the chances of the petition having any significant effect. Nissi, however, remains hopeful that it will bring about change, because the commission would be set up directly through the UN without interference from the Lebanese administration. “Political reform is a must,” he said. “But to reach political reform we must stop the corruption first, get back the stolen money, eliminate any factors that protect the thieves, and achieve enforcement of the law. We believe that if the petition’s requests are implemented, we might reach that phase.”