Argentina Freezes Bank Deposits for 1 Year, Thousands of Civilians Protest Demanding Cancellation of the Curb

Thousands of civilians demonstrated on the streets demanding the cancellation of curbs on bank deposits after the Argentine government announced on the 10th that it would extend the measure to freeze deposits in order to prevent the breakdown of the financial system from massive bank withdrawals.

This is the first time that such an intense demonstration took place since Eduardo Duhalde was inaugurated as president.

That evening, more than 5,000 demonstrators crowded the Plaza de Mayo in front of the Government House in Buenos Aires, and criticized the government`s freezing bank deposits, while 2,000 people in the Palermo district demanded immediate general elections and the dismissal of the Chief Justice who is suspected of corruption.

Previously the Argentine government announced that all current accounts above $10,000 and all savings accounts above $3,000 would be turned into fixed-term deposits, untouchable for at least a year.

Meanwhile, the Washington Post reported on the 10th that the U.S. and the International Monetary Fund (IMF) sent a pressing message which stated that Argentina can only get international aid under strict financial and currency measures.