The Israel-Lebanon ceasefire announced on Tuesday is essentially a rerun of UN Resolution 1701, the deal that ended the 2006 Lebanon war and ushered in 18 years of something approximating peace. If you live in one, budget cuts and increased taxes could be in your future.

Hezbollah conducted a lot of reconstruction work after the 2006 war, financed by Iran and using its construction wing. The project was directed by Sayyed Hashem Safieddine, a Hezbollah leader killed by Israel 11 days after Nasrallah, in a sign of the bigger challenges it will face this time round.

With its longtime leaders dead, its military capabilities vastly diminished, and its fighters forced to retreat from southern Lebanon, Hezbollah emerges from its war with Israel facing unprecedented challenges.