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A better bailout

Feb 3

Written by:
03/02/2012 12:29  RssIcon

Break up with Barclays

In one week from now, on February 10th, Move Your Money UK's first event is taking place at a Barclays branch in London. The event has been organised to coincide with the announcement of the bank's bonuses.

Campaigners will go to the bank to tell Barclays they will be moving their money and hope that other customers will do the same.

Move Your Money activists say on their website:

"Barclays ticks every box for a failed model of banking. Since the banking crisis Barclays has continued to pay executives annual bonuses of tens of millions, and to decrease lending to the small businesses they had promised to support. Of all the big banks, Barclays receives the most complaints from the public to the UK Financial Services Authority.

They continue "Abroad, Barclays invests in the arms trade including the manufacture of deadly illegal cluster munitions and depleted uranium. It has regularly been accused of large scale money laundering. Barclays supports oppressive regimes such as Mugabe’s Zimbabwe, and is estimated to avoid between £800 million and £1billion in tax every year. In early 2012 it won the annual Public Eye 'Shame' award for food speculation: making hundreds of millions of pounds from betting on food prices and pushing millions into poverty and malnutrition.

Whether it’s shutting your account for good, making that first withdrawal or signing a letter of complaint to Barclays, come and join the ‘Better Bail-Out’ and get your money out of Barclays, and into something better.

Together, we have the power to change British banking for the better. Move Your Money!"

The event will take place at the Barclays branch on 56 Southampton Road, London, WC1B 4NB on February 10th.


Ethical Consumer's brand new 2012 banking buyers' guide will go live on this site in February. Register now and we'll let you know when it does.

For now check out our 2009 free buyers' guide to current accounts for more on the ethics of banks.



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