South Asia ribune T See Page 24 See Page 19 Year 1 Issue 14 Thursday, 20.10.11 www.satribune.co.uk Price: 90p Anti-Capitalist Protests Occupy London Stock Exchange Begins, Where will it end? At Wednesday’s assembly of over people and the planet, not the military, 500 people on the steps of St Paul’s, corporate profits or the rich. #occupylsx collectively agreed the initial 8 We stand in solidarity with the global statement below. Please note, like all oppressed and we call for an end to the forms of direct democracy, the statement actions of our government and others in will always be a work in progress. causing this oppression. 1 The current system is unsustainable. 9 This is what democracy looks like. It is undemocratic and unjust. We need Anti-Capitalist Protests alternatives; this is where we work Protesters attend demonstrations over towards them. the global financial system near St Paul’s 2 We are of all ethnicities, backgrounds, Cathedral in London as the protests genders, generations, sexualities dis/ spread around the world. abilities and faiths. We stand together On Saturday 15th October, around 4000 - with occupations all over the world. 5000 people earnestly took to the streets, 3 We refuse to pay for the banks’ crisis. speaking out against corporate greed and 4 We do not accept the cuts as either economic equality. necessary or inevitable. We demand The police were quick to issue sanctions an end to global tax injustice and our against the occupation of Paternoster democracy representing corporations Square, but an unlikely sanctuary was instead of the people. provided by St Paul’s Cathedral. The 5 We want regulators to be genuinely steps of this iconic London landmark independent of the industries they received a host of peaceful protesters as regulate. they began their general assemblies and 6 We support the strike on the 30th planned a course of action in the same November and the student action on the vein as Occupy Wall Street. 9thNovember, and actions to defend our Purportedly, the police tried to disperse health services, welfare, education and protesters from St. Paul’s, but this was employment, and to stop wars and arms against the wishes of Canon Chancellor dealing. Giles Fraser. Dr Fraser, welcoming of 7 We want structural change towards the people who occupied the steps, asked authentic global equality. The world’s the police to move on. A sublime and resources must go towards caring for Continued on page 02 >> 2 NEWS South Asia Tribune I Thursday 20 October 2011 Britain’s economic recovery is off the track : Mervy King overnor of the Bank of England employed steps could aggravate the a credible plan to reduce the fiscal deficit Mervy King has warned that financial problems, exacerbate the debt over the medium term, we were on track. GBritain’s economic recovery is crisis and leave taxpayers with larger bill, But the problems in the euro area and the off the track, accusing the government of adding that these inadequate measures marked slowing in the world economy not taking correct measures to handle the had only “bought time” for the world have lengthened the period over which country’s economic crisis. economy, leading markets to question the a return to normality is likely,” King In a speech addressed to the Institute sustainability of banks and governments. suggested. of Directors in Liverpool, King also “So far, that time has not been used The governor declared that creditor insisted that Britain is threatened by the to deal with the underlying imbalances, governments including Germany and global economic calamity and “time is or the weaknesses in bank and sovereign Japan must increase their domestic running out” to resolve it. balance sheets. Time is running out,” he request in order that debtor states like Despite taking emergency steps added. Britain could export more. including low interest rates and printing While confirming that inflation was “Each country can put itself in a new money, the governments could not “close to its peak” and the “medium term position to rebalance, as we have done in yet tackle the fundamental problem of outlook was weak,” King considered the “Our objective must be to steer the UK the UK. But in the absence of rebalancing, overspending which is the underlying international problems as “a threat to our economy slowly back to a position of more globally and especially in the euro area, cause of the economic crisis, King said. strategy of rebalancing and recovery of normal interest rates and lower budget we could be facing a recovery that is not He pointed out that some of the the UK economy.” deficits. With a lower level of sterling and merely reluctant but recalcitrant.” Occupy London Stock Exchange Begins, Where will it end? Continued from page 01 >> movement by granting airtime and of “We Are The 99%” which has anyone but themselves, they do not protests are an organic democratic ink; the antipodal of Occupy Wall become the symbolic strap-line of represent 99% of us as Mr Andrew procedure that has been born out symbolic symphony of goodwill Street where the U.S media largely Occupy. The 99% banner represents Gilligan suggested; they are part of of pure frustration for the current democracy, Dr Fraser said; ignored the protests for an exorbitant the loose notion that 1% of the 99% - included and inclusive. This is political, media and economic The UK mainstream media have amount of time. On the other side population hold the world’s wealth, the point that mainstream reporters climate. been fairly affable towards the of the Atlantic, the UK press have and the 99% are now dangerously need to remember, and those in the It’s more than possible that we are followed the Occupy London Stock disengaged and left with complete mainstream media would know this in uncharted territory with history Publisher Exchange, but there are those who social disparity. At no point do the if they had a finger on social issues as giving us no lessons on how this Salah Bu Khamas (UAE) hopelessly miss the point , the slogan occupiers claim they represent well as corporate. The global Occupy global movement will conclude. Sabha Khan (UK) UK Office 10 Courtenay Road, Wembley, Bank of England voted 9-0 to pump Middlesex, HA9 7ND UK Phone: +44 20 8904 0617 Fax: +44 20 8181 7575 £75bn more into UK economy [email protected] ank policymakers electronic money into the inflation being well above its The minutes said: “In the India Office Bdiscussed injecting up economy than the £75bn they government-set target. United Kingdom, the path of Satya Infomedia Pvt. Ltd. to £100bn in new round of agreed on this month. Policymakers discussed output had been affected by a C/O Satya Group. quantitative easing as they Minutes from the Bank’s injecting as much as £100bn of number of temporary factors, 1st Floor, Avenue Appt., predicted growth would stall meeting earlier this month fresh money as they considered but the available indicators Near Sheth. R. J. J. High School, Bank of England policymakers revealed the monetary policy the threats to growth from the suggested that the underlying Tithal Road, are bracing for the UK economy committee (MPC) was united global economy, sovereign debt rate of growth had moderated Valsad - 396001 to grind to a virtual halt and over keeping interest ratesat problems and stalled household and would be close to zero in the Gujarat, India discussed pumping even more their record low of 0.5%, despite spending. fourth quarter.” Phone +91 2632 222209 / 222211 Fax: +91 2632 222212 Post Box No. 98 /108 Ken Livingstone’s five-point plan to United Arab Emirates Office S.K. Group of Companies P.O. Box 9021, Karama Dubai, create 11,500 jobs for the young United Arab Emirates en joined Ed Miliband and Ed Balls in Camden Ken Livingstone said, Tel: +971 4 2659970, 3359929; Fax: +971 4 2659971, 3341609 Kon Monday to launch Labour’s plan for jobs ‘In a city where, disgracefully, one in ten is out www.sk-groupofcompanies.com and growth in London. of work thanks to the Conservative party’s failed Labour’s five-point plan pledges to: policies we need the plan for jobs and growth that Managing Editor & CEO 1. Create up to 11,500 jobs for young people and Ed Miliband and Ed Balls are proposing. Mohammad Shahid Khan build 5,000 new homes ‘Labour’s plan to cut VAT and invest in new jobs would make a real difference, putting the interests Group Editorial Managers 2. Bring forward investment projects like new of ordinary Londoners first - and I will follow the Gulzar Khan (India) school buildings same course by putting money in peoples’ pockets Abdul Khalique (Pakistan) 3. Temporarily reverse the Tory-led Government’s by cutting fares if I am elected. VAT rise - a £450 boost for families with children Editorial Board UK ‘The approach taken by the government and mayor 4. Cut VAT on home improvements to 5% for a Frances Brunner are making Londoners less well off and less safe.’ year Ken has promised to rip up Boris Johnson’s FYI Tribune team 5. Give up to 334,000 small firms a tax break to ‘high fare’ policy which has committed Londoners Adrian Fellar take on extra workers government’s plan is failing Londoners. to 20 years of fare increases at 2% above inflation Misbah Khan ”Ed Miliband MP, Leader of the Labour Party, ‘Only a government which is badly out of touch each year and replace it with a fairer fares package Reema Shah said: Rohma Khan with what is happening in Britain’s high streets, starting with: Keziah-Ann Abakah “These are dangerous times for Britain’s economy homes and workplaces would fail to realise that.