BEIRUT — Lebanese depositors, including one armed with a hunting rifle, broke into at least five banks on Friday to demand their trapped savings, a sign of growing chaos in the small Mediterranean nation amid a historic economic meltdown.
Friday’s raids were the most in a single day, and raised the possibility that more desperate depositors would try to extract their money by force. The break-ins reflect public anger at the banks’ strict informal controls on cash withdrawals, a byproduct of the financial crisis.
In an apparent attempt to regroup and buy time, the Association of Banks in Lebanon said all branches would be closed for three days, starting Monday.
abcnews.go.com/International/wireStory/depositors-storm-banks-lebanons-cash-crisis-worsens-90015186
This is just the beginning, it’s going to spread.
History will repeat itself in America.
Update: Video about depositor heist
abcnews.go.com/International/wireStory/depositors-storm-banks-lebanons-cash-crisis-worsens-90015186
Lebanon banks close down after wave of hold-ups
All banks in the Lebanese capital of Beirut closed down on Friday after a string of “depositor heists” in the crisis-hit country.
Banks held up by the depositor?
h/t Remedial_Rebel