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Albania one of Europes smallest countries is situated in the western part of the Balkan Peninsula It has a 360-km 225-mi coastline on the Adriatic and Ionian seas and is bounded on the north by Yugoslavia on the east by Macedonia and on the southeast by Greece The Albanians name for their country Shqiperi which means eagles land aptly suggests Albanias isolated rugged terrain and its strongly independent people In the 1990s after more than four decades of Communist rule Albania began the process of moving from a one-party dictatorship to a multiparty democracy and from a centrally controlled economy to a free-market system It is hard the world financial history would find a case like Albanias where the collapse of the pyramid scheme endager savings of the greatest part of Europes poorest population It is hard it finds a bankruptcy which so totally threaten the states finance Only the iceberg banking part of the usuries is made evident and its dimensions seem catastrophic Some 250 million were frozen at their banking accounts and they belonged only to two foundations and that is something more than 50 percent of the money circulated in the arteries out of the banks for the economy It is not known how much of the money circulating in all the country - wich is some 15 billion - has conquered the under-water part of the still undiscovered pyramid scemes Even though President Sali Berisha claimed victory in the elections which many international observers said were marred by serious voting violations he banned an opposition rally today Many of those who defied the ban including elderly men and women who were near the square were beaten with truncheons by riot policemen as horrified election monitors from the Organization for Security and Cooperation in Europe looked on from a nearby hotel balcony Several men stood near the square with blood running down their faces About a dozen opposition leaders were beaten
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