At Barclays headquarters in the City, the bank recently revealed billions in profits and hundreds of millions in bonuses to be shared among an elite pool of traders and directors.
.
But down at ground level – and a world away from the marble and glass of the executive suites –
.
There was a very different picture, as more than 50 customers queued outside a nearby branch, ready to close their accounts and cut up their cards.
.
Campaigners are hoping this trickle of rejection will turn into a flood as the public vents its frustration against Britain's banks in the best way it can – by moving its money.
.
The move your money campaign is a child of the Occupy Wall Street movement.
.
Which captured the imagination of the broader American public with a simple but compelling slogan: "Invest in Main Street, not Wall Street
.
It claims to have led to more than 10 million people moving their money to local financial institutions, with a "Bank Transfer Day" in November seeing more than 40,000 people switch.
.
Move Your Money launches in the UK in March with the catchphrase "Bank on something better"
.
In the belief we can all take concrete action to create a more stable and ethical banking system.
.
We're all angry about the cuts, about what's happening to schools and libraries and so on, given the wheelbarrows of cash that have supported the banks, says Ed Mayo, head of Co-ops UK.
.
At an individual level, you can't do everything to put an unfair economy right – but you can do something.
.
Move Your Money is the new Fairtrade.
.
It is the campaign for our time.
.
The National Union of Students has joined, and is encouraging local student unions to junk accounts with the big five banks in favour of more ethical alternatives, such as the Co-op or Nationwide building society.
.
It's an echo of the hugely successful 1980s boycott against Barclays and its operations in apartheid-era South Africa.
.
So far, just over 2,000 people have signed a pledge on moveyourmoney.org,uk to "register your vote against business as usual", but organiser Louis Brooke says it's still early days, with the site open just for a few days.
.
In March, a series of events will try to keep the campaign in the public eye, including a nationwide petition.
.
And it's not just crusty protesters threatening to move their overdrafts.
.
The campaign says it's close to persuading even some Tory MPs to take the pledge.
.
If you want to join, what can you do?
.
Why should you switch?
.
Because you're appalled at bankers' bonuses, salaries and stock options.
.
Because their trading and lending practices have left the western world's economy in ruins.
.
Because you're fed up with your money financing arms dealers and dictators.
.
Oh, and they also stung you for £25 last month when you went a few quid over your overdraft limit.
.
The banks failed badly, but despite receiving the biggest taxpayer-funded bailout in history, nothing much has changed.
.
Banks continue to pour money into socially useless lending and risky speculation, leaving us exposed to more crises, commodity bubbles and instability.
.
But down at ground level – and a world away from the marble and glass of the executive suites –
.
There was a very different picture, as more than 50 customers queued outside a nearby branch, ready to close their accounts and cut up their cards.
.
Campaigners are hoping this trickle of rejection will turn into a flood as the public vents its frustration against Britain's banks in the best way it can – by moving its money.
.
The move your money campaign is a child of the Occupy Wall Street movement.
.
Which captured the imagination of the broader American public with a simple but compelling slogan: "Invest in Main Street, not Wall Street
.
It claims to have led to more than 10 million people moving their money to local financial institutions, with a "Bank Transfer Day" in November seeing more than 40,000 people switch.
.
Move Your Money launches in the UK in March with the catchphrase "Bank on something better"
.
In the belief we can all take concrete action to create a more stable and ethical banking system.
.
We're all angry about the cuts, about what's happening to schools and libraries and so on, given the wheelbarrows of cash that have supported the banks, says Ed Mayo, head of Co-ops UK.
.
At an individual level, you can't do everything to put an unfair economy right – but you can do something.
.
Move Your Money is the new Fairtrade.
.
It is the campaign for our time.
.
The National Union of Students has joined, and is encouraging local student unions to junk accounts with the big five banks in favour of more ethical alternatives, such as the Co-op or Nationwide building society.
.
It's an echo of the hugely successful 1980s boycott against Barclays and its operations in apartheid-era South Africa.
.
So far, just over 2,000 people have signed a pledge on moveyourmoney.org,uk to "register your vote against business as usual", but organiser Louis Brooke says it's still early days, with the site open just for a few days.
.
In March, a series of events will try to keep the campaign in the public eye, including a nationwide petition.
.
And it's not just crusty protesters threatening to move their overdrafts.
.
The campaign says it's close to persuading even some Tory MPs to take the pledge.
.
If you want to join, what can you do?
.
Why should you switch?
.
Because you're appalled at bankers' bonuses, salaries and stock options.
.
Because their trading and lending practices have left the western world's economy in ruins.
.
Because you're fed up with your money financing arms dealers and dictators.
.
Oh, and they also stung you for £25 last month when you went a few quid over your overdraft limit.
.
The banks failed badly, but despite receiving the biggest taxpayer-funded bailout in history, nothing much has changed.
.
Banks continue to pour money into socially useless lending and risky speculation, leaving us exposed to more crises, commodity bubbles and instability.
No comments:
Post a Comment