Nowadays, the ruling system is managing the financial crisis in a discretionary and fraudulent manner, in the absence of legal or political protection for the poverty-stricken groups, or clear cost-sharing mechanisms. In collusion with the political parties, the central bank, part of the judiciary and the government, passing laws and policies notwithstanding of the interests of the vast majority of the Lebanese people, banks, also illegally detain our deposits regardless of the interests of the small and medium depositors, who in turn constitute the vast majority of depositors.
The banks invested the savings of the Lebanese people in the public debt, in return for exorbitant interests, which earned the wealthiest shareholders outstanding profits. Now, after politicians spent our savings in fake deals and corruption projects, and after the owners of banks and the major wealthy community profited from deliberately transferring their money abroad, the ruling system wants to throw the heavy burden of the crisis on the depositors by deducting from their accounts.
It also wants to run off with our savings, or throw the burden of the economic difficulties on us by seizing our deposits, and indirectly passing a Haircut through inflation, the exchange rate, and other fraudulent scenarios. Organization has thus become a reality that must be resorted to in order to confront these policies.
In order to confront these policies, The Depositors Union hereby announces the launch of a consolidated confrontation that seeks to establish five non-negotiable basic pillars, to solve the financial crisis that will be anchored by the power of the protests, and the law: Fair cost distribution, Debt restructuring, Inclusiveness, Transparency, and Accountability. Any solution that does not rely upon these five pillars will not be able to secure the urgent interests of depositors, and is thereby definitely unacceptable.
Dealing with the crisis necessitates starting from a clear and long-term vision based on a clear detailed plan, fair procedures and specific results and deadlines.