Over the past week protests in Lebanon have turned violent. Following months of relatively peaceful demonstrations across the small country anti-government protesters and security forces clashed in the streets of Beirut. The past weekend saw the most violence with over 100 citizens injured. Police and security forces made dozens of arrests, with most coming as protesters attempted to storm Lebanon’s Parliament building. The situation on the ground deteriorated to the point that the Lebanese government called in the military to bolster the ranks of police and security personnel.
Political corruption has been at the heart of the protests. Frustration with the ruling class had been rising for quite some time in Lebanon. As has been the case in other nations across the region, the people have taken to the streets to demand change. Lebanon is in the midst of a severe economic crisis, and the government appears unable or unwilling to address it properly. Inflation and unemployment continue to rise, the national currency’s value is diminishing, and Lebanon’s credit ranking is in the basement.
To make matters even worse, cash is running short in banks around the nation. Commercial banks have placed restrictions on withdrawing dollars, and blocked money transfers abroad. These moves have sparked a number of extreme incidents at banks ranging from scuffles between depositors and bank employees to depositors physically occupying branches.
Unfortunately, even if the government brings on early elections as the protesters have demanded, there’s no guarantee a new parliament and cabinet will be able to stave off the looming economic catastrophe.