Thousands of anti-capitalists protesters have besieged the London business districts in noisy running battle with the Police ahead of the G-20 summit taking place in the capital tomorrow. Protesters gathered at Bank, part of the Square Mile and an area that has the largest concentration of commercial and merchant banks and other financial houses in the capital. One protester carried a placard with the word, “Eat the bankers” written across it. Cannibals are on the prowl looking for animals called, bankers.
Weeks before the protest there have been massive preparation by anti-capitalist anarchists who plan to demonstrate against the soulless suffering capitalism has brought on the Western world. Internet communication was brutally used to organise and direct movement in and the around the capital. There are commanders directing militant anti-capitalism foot soldiers to the front line for pitch battle with the Police. As at the time of this report, 24 protesters have been arrested while many sustained bloody injuries. Capitalism may have been the tinder, but the protesters formed the spark that is setting the capital ablaze in an orgy of violent, running battle with the Police. Shops have been smashed and there is ongoing siege on the Bank of England.
The global financial system reached its decline years ago and one of the biting offshoots of the meltdown is the credit crunch that has had the UK in its strangulating coil. The crunch brought massive job losses, mortgage repossession and capital flight on the high streets. Many commercial banks were distressed and had to be bailed out by massive government borrowing from Arab countries like United Arab Emirate. Today, fuel duty has been increased and interest rate is at its lowest for years.
Financial pundits have proffered solution ranging from tighter regulation for banks stock exchanges, bonuses and businesses. Also, there have been calls for stringent monitoring of international businesses to safeguard a repeat of the present meltdown. Protesters are still in a lockdown with the Police tonight and more protests are planned for tomorrow.
All invited leaders of the G-20 countries are tonight dining with the Queen at the Buckingham Palace. Meanwhile, France and Germany are in sharp disagreement over planned British agenda for the global economy.
United Kingdom is a favourite destination for West Africans and Nigerians are the largest African immigrants. Most Nigerians live and work in the capital and form a major British work force. Many have lost businesses, jobs and homes to the credit crunch but with their natural resilience many are bouncing back. Some have gone for jobs that pay less while some are becoming tenants after repossession.
Emukay, Lagos Island, Buka, Bronze and the Den, all famous restaurants have been counting the cost of client losses since the dark clouds of credit crunch appeared in the British sky. Old and easy avenues for bank and benefit fraud have been blocked and hard work seems to have replaced luck, chances and living on the edge. Financial remittances to family, relations and friends are thinning as the cost of living has soared above inflation rate.
Gloom may have descended on the capital but thank God for Mrs Obama who is wowing the British public with her fashion, beauty and elegance.