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01/04/2002 06:08 PM ID: 15331 Permalink   

Protests Start Over Bank Closures

 

Approximately 1000 people are staging sit-ins in Yugoslavia, protesting against the closure by the government of four of the country's major banking institutions, one of which has Milosevic as a former director.

It is predicted that a massive job loss of around 8,500 will occur if the banks are closed. However, the government has poured $17 million into the institutions in the last 10 days, and was unable to change the debt situation.

The President of Yugoslavia, Vojislav Kostunica, has said that the laid off workers have the possibility to find jobs in another 4 institutions that will take over from the current ones. There is an unofficial unemployment rate of 50% in the country.

 
  Source: news.bbc.co.uk  
    WebReporter: Lois_Lane Show Calling Card      
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