financial economic collapse
In late October 2019, Lebanon entered the stage of total collapse. The collapse was a natural outcome of 16 years of grinding civil war and 30 years of savage economic and financial liberalism, where fortunes and financial political empires were established that swallowed state institutions and plundered public money and tens of billions of dollars in foreign political aid money. The collapse included all sectors of society without exception: the banks practically seized people's money and smuggled it into internal and external coffers. Basic services, nothing left but ghosts. Like the lira, everything collapsed and 95% of it almost disappeared: state institutions, electricity, water, transportation, communications, health, education... Alone, poverty, immigration, unemployment, theft, and the threat to the security of citizens flourished.
Today, after three years of collapse, it has been proven to the Lebanese, for the thousandth time, that the political system we built stands behind all our tragedies, and that wars and crises will continue as long as the sectarian quota system continues to live.
The Consumer Association raised its voice since 2016 against the financial engineering of Riad Salameh at a time when many voices were silenced, including most of the media. In February 2020, the Association, along with three civil parties, filed a lawsuit against the Association of Banks that withheld the money of depositors, but the judiciary’s complicity with the quota system protected the banks and it is still.
Also, since January 2020, the association has stood against the corrupt form of support adopted by the Banking Party, which led to the looting of about $35 billion, which could have pulled the country out of its crisis. Since that date, the association has proposed allocating support to poor families, not merchants.
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