Is 2010 The Year For Reform?

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Political paralysis has continued to stand in the way of reform in Lebanon, with little having been achieved since the formation of the government in November. The country has learned to function without the aid of government to a remarkable degree, and has achieved considerable economic success over the last two years, given the challenging circumstances both locally and on a global scale. In our view, though, Lebanon's government will continue to rely on this policy of 'muddle through and wait it out'. This is a gamble, in our view, with Gulf investment far from guaranteed in light of the