Tripoli, Libya - Families holding investment portfolios managed by the Libyan Fund for Economic and Social Development demonstrated Monday in Tripoli against the decision of the European Union Commission to freeze Libyan funds abroad. The negative consequences of the freezing of Libyan assets and finances abroad have begun to severely hit the country's economic sector as well as services. Libyan families, especially the low income ones, are the worst hit. The demonstrators, who start their protest from the head office of the Economic and Social Development Fund, proceeded to the Embassy of Hungary, which currently holds the rotating EU presidency.

They chanted slogans reflecting their feelings about the 'inhumane acts' by the EU, which they said violated all international laws and rules.

They also handed over to the Hungarian ambassador a memorandum asking the EU to immediately de-freeze the assets, contending that the sanction has deprived 270,000 families, or about 1.8 million Libyans, of income.

Pana 20/04/2011