Following the selection of Lebanese businessman Najib Mikati as prime minister on Monday (26 July), the European Union urged Lebanon's political elite to form a cabinet as soon as possible.
“It is now critical that a legitimate and accountable government is created in Lebanon as soon as possible, one that is capable of addressing the country's acute economic and social crises,” the EU said in a statement.
“In the sake of the people of Lebanon, we urge on Lebanese political leaders to cooperate and allow for the speedy creation of a credible and capable government,” EU stated.
Ex-premier and millionaire Mikati was charged by Lebanese MPs on Monday with creating a cabinet and ending a year of political gridlock that has wrecked the economy.
A new administration would be faced with the difficult task of steering Lebanon out of one of the world's biggest financial crises in more than 150 years, as well as to polls scheduled for next year, according to the World Bank.
Mikati, a 65-year-old telecoms billionaire who is considered by some as a symbol of Lebanon's corrupt oligarchy, described his designation as a "tough step" and encouraged Lebanese people to back him.
“I don't have a magic wand, and I can't perform miracles on my own,” he explained.
Mikati will take over from Saad Hariri, who stepped down earlier this month after failing to broker a settlement amid significant international pressure.
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