Beirut Erupts In Protests Over Bank Closures

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Protests in Lebanon’s capital Beirut erupted with demonstrators smashing windows and setting fires at the country’s two largest banks which have been shuttered now 10 days for an “open-ended strike” protesting a recent court ruling. Since 2019, banks have limited cash withdrawals but the recent ruling in favor of two depositors would force the banks to release all the plaintiff’s money in cash which the banks say that they can’t do for everyone, according to a recent AP story.  Lebanon’s economy has been plunging since 2019, with over 75% of the population now in poverty and the Lebanese pound having lost 97% of its value against the dollar.