Lebanese President Michel Aoun said on Thursday he was ready for a dialogue with protesters to help save the country from collapse after days of demonstrations against the ruling elite, and suggested a government reshuffle was possible.
The country's banking association said banks would remain closed Friday for a seventh day due to safety concerns, and would open as soon as the situation stabilises, with operations limited to paying out customer and employee salaries via ATMs.
Protests expressing outrage with an establishment seen as corrupt have swept Lebanon since last week, paralysing the country despite reforms intended to appease discontent and win over Western donors that have pledged badly needed aid.
In a televised address, Aoun promised to fight state corruption that he said had "eaten us to the bone" and assured protesters that their "shouts will not be wasted".
"I am ready to meet your representatives who carry your concerns, to listen to your specific demands," said Aoun.
The protest movement has cut across sectarian lines and been largely leaderless. It was not immediately clear which, if any, representatives would meet with Aoun.
He said there was "a need to review the current government," hinting a reshuffle could be in the cards, but warned protesters that the system could not be changed by crowding public spaces.
"We will discuss what we can do together to achieve your objectives without causing collapse and chaos, open a constructive dialogue that can lead to a constructive result, and define options that will lead to the best results."
The protests have been overwhelmingly peaceful and the army has struggled to prevent persistent demonstrators from blocking roadways. They have pledged not to use force to re-open roads. Schools have remained closed.
Aoun also vowed that those who had stolen public wealth would be held to account and looted money returned.
Protesters who took to the streets for an eighth day dismissed Aoun's address and said they refused to back down, saying their main demand was the resignation of the government.
Prime Minister Saad al-Hariri, whose government groups nearly all of the main parties in a sectarian power-sharing system, said he "welcomed" the call to review the current government through "constitutional mechanisms".
Druze politician Walid Jumblatt called a reshuffle the "best solution" to pull the country out of crisis and said it should be followed by new parliamentary elections.
Protesters reject speech
Protesters rejected Aoun's overture.
"No one can negotiate on behalf of the street. They must achieve the goals of the masses and the government's resignation is the primary demand," said Basil Saleh, 39. "The ball is rolling and it's not in favour of the government."
In the speech, Aoun said he supported proposed reforms to lift bank secrecy and scrap the legal immunity of presidents, ministers, and members of parliament - legislation that could pave the way for corruption investigations.
The United States, Britain and France have all urged Lebanon in recent days to act quickly on reforms to rein in graft and cut waste, and have expressed support for the protesters.
Lebanon is hoping the reforms will convince Western donors to release some $11 billion pledged at a conference last year but contingent on long-delayed reforms.
The economy, whose mainstays include construction and tourism, has suffered years of low growth due partly to regional turmoil, with war-torn Syria next door. Capital inflows have ebbed and its public debt, about 150% of GDP, is one of the world's highest.
In the town of Jal el Dib, protesters waving Lebanese flags brought out umbrellas and raincoats to keep protests despite rain. Some erected makeshift barricades to block a main roadway.
"We want to tell Michel Aoun, we thought we were your sons. We waited for you eight days and today we realized it was in vain," said Salaam Zataari, shouting into a microphone to rally a crowd of several hundred.
Government measures announced this week that include halving minister salaries, taxing banks and overhauling the wasteful electricity sector have failed to defuse popular anger and have yet to prod Western donors to move forward on the pledged financing.
"That speech did not convince us at all. We've heard it a lot before. That's why we're staying here until the government falls," said Clara, a university student.