A man held hostages for hours at a Lebanese bank to free up frozen savings amid a severe economic crisis. He entered a branch in the capital Beirut on Thursday and fired three warning shots, local media reported. According to the state news agency NNA, he threatened to set himself on fire with gasoline if the money was not paid to him.
According to him, the man had about 200,000 US dollars (about 193,000 euros) in his account and needed money to pay for his father’s treatment in a hospital. After about eight hours, he finally gave up early Thursday night and turned himself in to police, according to security circles. The NNA reported that the bank promised to pay the man $30,000.
serious economic crisis
The Mediterranean country has been suffering for almost three years with the worst economic crisis in its history. Large sections of the population fell into poverty. The national currency lost more than 90% of its value. Because it is pegged to the dollar, many Lebanese have accounts in US currency. However, with the country running out of foreign exchange supplies, the Lebanese’s ability to withdraw US dollars from their bank is very limited.
Several people gathered at the Beirut bank branch on Thursday to express their solidarity with the criminal. “Our corrupt system made the poor man do it,” said one woman. Many Lebanese accuse the Lebanese political elite of massive corruption and blame them for the dramatic economic situation. The crisis can be felt everywhere. Most families have to survive on just a few hours of electricity a day. The water supply also breaks regularly.
Potential international supporters like the International Monetary Fund (IMF) are demanding reforms before helping the country. However, the government has so far failed to do so.