Maapank bankruptcy aftermath: protests and panic

  • 1998-07-16
  • Kairi Kurm & Daniel Silva
TALLINN – Highway traffic was blocked, a run on bank deposits occurred and a political party is broke as a result of last week's Maapank bankruptcy announcement.With two harvesters and a tractor, about 30 people blocked the main highway connecting Tallinn to St. Petersburg near the city of Kohtla-Jarva last week. Lengthy rows of standing cars were backed up for about five kilometers in both directions. The protesters all belonged to a local farm cooperative which had 335,000 kroons ($23,000) in a frozen account at Maapank. The farmers were demanding access to their funds and a meeting with ...
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