Bank holdups snowball in Lebanon as depositors demand their own money – Reuters

Bank holdups snowball in Lebanon as depositors demand their own money – Reuters

BEIRUT, Sept 16 (Reuters) - Five Lebanese banks were held up by depositors seeking access to their own money frozen in the banking system on Friday, in a spiralling spate of holdups this week spurred by frustration over a financial implosion with no end in sight.

Seven banks have been held up since Wednesday in Lebanon, where commercial banks have locked most depositors out of their savings since an economic crisis took hold three years ago, leaving much of the population unable to pay for basics.