Demanding their money back, protesters damage banks in Argentina

BUENOS AIRES (AP) _ Dozens of irate depositors demonstrated violently in the center of Buenos Aires, damaging two banks and two armored bank trucks. <br><br>The protesters demanded the return of their

Tuesday, February 19th 2002, 12:00 am

By: News On 6

BUENOS AIRES (AP) _ Dozens of irate depositors demonstrated violently in the center of Buenos Aires, damaging two banks and two armored bank trucks.

The protesters demanded the return of their deposits in dollars on Monday, and not in pesos, as the government of President Eduardo Duhalde has decided. The peso has lost almost half its value since the government decided its flotation two weeks ago.

Holding pots, pans and hammers, the depositors entered into the branches of several banks.

Some demonstrators broke windows at the entrance of the Banco Frances, while shouting, ``Thieves, give us back our savings!'' Almost simultaneously, demonstrators entered Banco Rio, broke some windows and then destroyed furniture.

Later on, the protesters punctured the tires of two armored bank trucks and broke their windows.

Also Monday, the leaders of the South American trade bloc Mercosur called for international financial support to help Argentina recover.

Argentina is reportedly seeking as much some $23 billion in bailout funds, but no formal negotiations have begun with the International Monetary Fund which is demanding a credible economic rescue plan first.

The Mercosur appeal comes after two months of social, political and economic turmoil in Argentina caused a revolving door of five presidents and forced the country to default on its $141 billion public debt.

Mercosur _ which unites full members Brazil, Argentina, Paraguay and Uruguay with associate members Chile and Bolivia _ is an 11-year-old trade bloc.