French yellow vest protests are hoping to trigger a nationwide coordinated bank run saying “We are going to get our bread back ” .
Yellow vests and their supporters will attempt in withdrawing as much money as possible simultaneously in a bid to undermine the French banking system and the euro itself.
Supporters of the move said it was to “scare the state legally and without violence,” in an attempt to pressure the French government to adopt the movement’s Citizens’ Referendum Initiative, allowing citizens to propose and vote on new laws.
Protester Maxime Nicolle shared a video to social media saying: “We are going to get our bread back…you’re making money with our dough, and we’re fed up,”
Banks only hold a fraction of the funds the country’s citizens have in their accounts. However, most banks limit ATM withdrawals to a relatively low amount, meaning that protests may have directly go to the banks to withdraw all their money.
The plans for the bank run come at a volatile time in France as the
French Prime Minister, Edouard Philippe said on Monday that tougher punishments will be introduced for rioters with 80,000 members of the security forces to be deployed next weekend.
The French Government is planning a further crackdown on protesters they deem to be causing trouble with plans to introduce new legislation to ban people and clamp down on the wearing of masks at demonstrations.