Lebanon's Presidential Vote Fails for 12th Time Amid Deepening Crisis.

Lebanon's presidential election collapsed for the 12th time, as neither the IMF's Middle East Director, Jihad Azour, nor Hezbollah-backed candidate Suleiman Frangieh secured the 86 votes needed to win in a first round vote. The standoff has opened a fresh sectarian fault line, pitting the Iran-backed, heavily armed Shi'ite Muslim Hezbollah against Christian factions. The stalemate may now require foreign intervention to resolve the crisis, including a newly-appointed French envoy expected in Beirut next week in a mediation effort. The financial crisis was caused by decades of corruption and profligate spending by ruling politicians whose vested interests have obstructed any steps towards addressing it.