President Correa to lead demonstration in Ecuador to remember the 18th anniversary of the bank crisis

Photo: Presidency

Quito, March 6 (Andes).- On Wednesday March 8, President Correa will lead a massive demonstration to remember another anniversary of the 1999 bank crisis which left hundreds of citizens mired in the worst economic crisis.

“We will gather to remember another anniversary of such terrible event (…) another anniversary of the time when they harmed the country to recall the migration caused when they stole our deposits,” said Correa during his weekly report.

He added that just like the Ecuadorian right-wing participated in a protest at the National Electoral Council alleging fraud, popular sectors will jog their memory.

“If 3.000 people complained outside the Electoral Council, we will be 100 thousand and we remind the whole world about the bank crisis,” said the chief of state.

Such demonstration is expected to be take place in El Arbolito Park at 10:00.

The bank crisis decreed in Ecuador during the administration of Jamil Mahuad resulted in the loss of more than 8 billion dollars according to the report of the disappeared Deposit Guarantee Agency.

On March 8 1999, the social democrat regime, mainly composed by bankers and entrepreneurs, froze 1.8 billion dollars of the private bank system, 681.1 million of offshore accounts and 145 million of financial corporations, unions.