London G20 London Summit

06-03-2009 12:55 | 12 comments

Storm the Banks

Climate Rush activists gathered outside RBS (Royal Bank of Scotland), Thursday 5th March to protest the incredible multi million pound pay out to Fred (the shred) Goodwin, former RBS Chief Executive, and more importantly, the banks continuing role in funding the climate changing industries of coal, gas and oil. Posting the largest losses in British corporate history, RBS lost £24.1 billion in 2008 and has since had billions of pounds of taxpayers' money pumped into it. Already the largest bailout to date, the government has agreed to inject a further £13 billion on top of the £20 billion already given, and to make a further £6 billion available. While the tax payer now owns at least 70% of its shares, the bank continues to operate as a private company,

On the same day as the Climate Rush demo outside RBS, the Bank of England reduced the base interest rate to 0.5% and announced the printing of £100 billion pounds of new cash to inject into the stalled economy. Next month, the G20 leaders (G22 to be more precise) will arrive in London to discuss further ways to get the poor to bail out the rich. Various groups are mobilizing to protest against the summit which the police are co-promoting as part of a 'summer of rage'.

The G20 Meltdown group say they're going to reclaim the City, 'thrusting into the very belly of the beast', with a four pronged assault on the Bank of England at noon on 1st April. That afternoon, as part of a series of actions leading up to the COP15 climate summit in Copenhagen, the Camp for Climate Action aim to expose how the discredited market mechanisms are being sold as a solution to climate change and are planning a climate camp in the city close the the Carbon Trading Exchange.

London G20 London Summit

06-03-2009 12:55 | 12 comments

Storm the Banks

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