Syria’s Assad Takes Oath for Fourth Seven-Year Term

CAIRO - Syrian President Bashar al-Assad, who was formally re-elected to a fourth seven-year term in May despite allegations of fraud by many Western countries, took the oath of office Saturday in Damascus.

A military band welcomed Assad as he walked down a red carpet before entering the palace to be sworn in and speak to a large crowd of officials and dignitaries. Two army officers carried copies of the Quran and Syria's constitution, on which Assad took the oath. He said in his speech that the main cause of Syria's current economic crisis was the freeze of his country's assets held by Lebanese banks. By some estimates, Assad said, Syria has $40 billion to $60 billion in Lebanese banks, which is enough to stall the economy and depress the value of Syria's currency.