The crisis is at its peak: following the breakout of the masses – the banks in Lebanon will be closed

Last weekend, mobs broke into a row of banks across Lebanon, according to the Lebanese media. The background to the extreme act is the difficult situation of the people of Lebanon and the dire economic situation in the country. Many residents describe how they have no money in their possession and that the banks do not authorize the account holders to spend or use the little money that is still left in their bank account.

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Crowds gathered around the attacked banks, who surprisingly encouraged the burglars and shouted slogans condemning the bank management and the Lebanese government. Based on this, the Lebanese Banks Association said that it is closing all branches in the country for three days to protest against the attacks and to protect bank employees.

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The serious crisis in the country has many factors. The lack of jobs, millions poured into Hezbollah’s terrorist activities, the civil war in Syria, the commodity crisis, the explosion at the port of Beirut, and more. All of these caused a real panic among the Lebanese who rushed to withdraw their money and empty the state coffers. In an unusual step, the banks decided not to allow citizens to withdraw their money and to limit their freedom of action when it comes to dealing with the bank. A step that, as mentioned, was not popular with the hungry Lebanese public.


The article is Hebrew

Tags: crisis peak breakout masses banks Lebanon closed

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