CovOps
Location : Ether-Sphere Job/hobbies : Irrationality Exterminator Humor : Über Serious
| Subject: Syria: If Protesters Don't Get Assad, the Economy Will Sat May 28, 2011 12:55 am | |
| As the crisis in Syria continues, many observers are beginning to say that if the protesters cannot overthrow the regime, the economy will. With political uncertainty at a suffocating level, the Syrian pound has fallen against the U.S. dollar. As a result, Syrians are feverishly hauling their money out of banks — about 8% of all banks deposits have been withdrawn — and shifting it into more stable foreign currencies. GDP was predicted to grow at a steady 6% this year. Now, predictions are closer to a negative 3% contraction. "I think the crackdown on protesters will succeed in the next two months," a senior western diplomat in Syria says. "But in six months time, the economy will have taken such a battering that [President Bashar al-]Assad will have lost the support of the majority of Syrians."
ANCAPS: ANARCHO-CAPITALISTS |
|