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Rare bank protest in Kazakhstan as economic woes grow

Thursday, January 21, 2016 - 00:47

Mortgage holders in the former Soviet republic of Kazakhstan protest outside a major bank amid a plunging national currency and rock-bottom oil prices. Jennifer Davis reports.

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Mortgage holders in Kazakhstan march onto a bank in the capital, Almaty, shouting 'Down with Banks' and burn bank logos. They're accusing banks of treating their customers like an anonymous 'grey mass' so they wore grey cloaks as a symbol of their anger. The demonstrators are demanding their loans be recalculated as the economy nose dives. But the oil-dependent country's economy is being hard hit by the crash in global oil prices .... and now President Nursultan Nazarbayev is calling a snap parliamentary election to strengthen his grip on power amid mounting economic hardships.

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Rare bank protest in Kazakhstan as economic woes grow

Thursday, January 21, 2016 - 00:47