More Bank Hold-Ups Erupt Across Lebanon

Photo: lorientlejour

The Facts

  • Lebanese depositors, including a retired police officer and a former Ambassador to Turkey, stormed at least four banks across Lebanon demanding their savings on Tuesday after banks ended a week-long strike and partially reopened last week.

  • Bank hold-ups were reportedly carried out against branches of the Lebanese Bank of Commerce, the First National Bank, the Byblos Bank, and the Intercontinental Bank of Lebanon. Depositors have had mixed results in obtaining funds.

The Spin

Narrative A

These depositors recouping their funds are heroes, and their actions represent the frustrations of an entire nation deprived of its savings for nearly three years. As millions of Lebanese have been thrown into poverty by corrupt politicians and bank owners, desperate measures are a form of retribution for this injustice.

Narrative B

While the depositors' actions may seem noble to some, they, like many others inside and outside Lebanon, are blaming the wrong people. It's the outside influence of Iran, as well as Hezbollah, that has pushed Lebanon to the brink. The Lebanese people must acknowledge this to truly move forward and fix their country.

Nerd narrative

There's a 50% chance that Lebanon's Fragile States Index score will be at least 92.0 in 2022, according to the Metaculus prediction community.

Articles on this story

Sign up to our daily newsletter