December 9, 2019 – The Dean of the Faculty of Business Economics and Administration (FBAE) at Notre Dame University-Louaize (NDU), Dr. Viviane Naimy, gave a lecture titled “The Triggers of the Current Financial Crisis”. The lecture took place at the Abou Khater Auditorium and saw a very high turnout from faculty, staff, and students from various majors.
Dr. Naimy provided an overview of the current economic situation in Lebanon and elucidated the parameters that led to the crisis starting in 1992 through to October 17, 2019. She explained the specificities of the financial engineering operations and their impact on the economy. She also exposed the public debt snowball phenomenon and analyzed the process, conditions, and consequences of pegging the Lebanese Lira to the US Dollar. Dr. Naimy summarized the lecture by drawing an original model according to which the Lebanese economy was systematically operating. Dr. Naimy will be releasing a detailed examination of the ideas put forward in her lecture at a later date.
The lecture was followed by a Q&A session for all participants during which NDU President, Fr. Pierre Najem, echoed Dr. Naimy’s conclusions saying, “We need to think beyond our individual benefits and instead about how we can bring about systemic change to the benefit of all. We need to think about the systems in place, and how we can bring about one which fosters justice and trust between its citizens.”