Last Sunday, dozens of citizens gathered in front of the headquarters of the “Lebanese Banks Association, where banks are accumulating the people’s money looted by the destructive alliance between the troika of banks, the Lebanese central bank and the political power”, and they organized a sit-in following a call by the student wing of the Lebanese Communist Party. The protesters made an appeal to the 'largest Lebanese store that plunders the people's money and only considers the interests of 1% of the population'.
After protesters reached the headquarters of the Workers 'Union last Friday, they issued a statement calling on all the victims of current economic policies (workers, farmers and students) to head to the headquarters of the Workers' Union Association which shelters the money stolen from the people thanks to the maneuvers of the destructive trio which is none other than the troika of the banks, the Bank of Lebanon and the political authority. '
Regarding the reasons for the sit-in in front of the headquarters of the Association, the student wing of the party explained, in a post published on the official page Facebook, that the banks obtained the sum of 94 billion of the share citizens and the Lebanese State; a sum intended for the class which represents 1% of the population. He added that the financial policies of the Bank of Lebanon are aimed at impoverishing the poor and enriching the banks even more. Not to mention that deposits reached $ 250 billion, which represents the largest part of the national economy (GDP is $ 55 billion).
The statement also explained that "the state pays, every year, a third of its expenses to the banks (public loan) which is about 6 billion dollars while the banks, the Central Bank and the political authority are responsible for these same expenses'.
At the heart of the unrest is Lebanon's struggling economy, which has been crumbling under enormous debt, and a financial crisis stemming from a slowdown in the inflow of capital. Economic growth in the Mediterranean country has plummeted in the wake of repeated political deadlocks in recent years, which have been compounded by allegations of corruption.
Lebanon currently has one of the highest debt ratios in the world, at $86bn, or more than 150 percent of the country's gross domestic product.
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