Activists from the Occupy London movement abruptly changed tactics on Friday, following a month of open-air tent protests, by seizing a vacant office complex owned by a major global bank.
In the early hours of the morning, protesters entered a series of interconnected buildings owned by the Swiss-based UBS bank on the fringe of the City of London — the heart of the UK financial sector — which have lain empty for several years. They immediately claimed squatters’ rights, posting a legal notice to that effect.
By mid-morning, several dozen people were inside, cleaning up patches of damp and collapsed ceiling plaster and hanging giant banners from windows, several targeting the actions of UBS, which has its London headquarters across the street.
Photo: EPA
In contrast to Occupy’s existing camps in the British capital — next to St Paul’s Cathedral and on Finsbury Square — the new outpost will not be primarily residential, but aims to act as a forum for ideas and meetings.
The buildings, called by protesters the Bank of Ideas, is holding an inaugural conference of Occupy movements from around the UK this weekend. A statement by the group promised a show by the comedian Josie Long and a seminar by Alessio Rastani, the independent financial trader who made headlines in September by telling the BBC that investment banks were now more powerful than governments.
“The Bank of Ideas will host a full events program where people will be able to trade in creativity rather than cash,” the group’s Sarah Layler said. “We will also make space available for those that have lost their nurseries, community centers and youth clubs to savage government spending cuts.”
It marks a further sign of the growing confidence of the UK movement, which sprang from an international wave of protests against the perceived excesses and inequalities of the global financial system.
Unlike their US counterparts, who have faced a number of forcible police evictions, Occupy protesters in London have been left alone.
An attempt by the City of London Corp to have the St Paul’s camp removed is set to reach the High Court on Wednesday. The Finsbury Square camp is on land owned by Islington London Borough Council, which has privately told activists it does not have the money to pursue a court case.
UBS, however, could apply very quickly for legal repossession of the buildings and request bailiffs, backed up by police, to move in. A spokeswoman for the Swiss-based bank said: “We know they’re there and we’re taking appropriate action.”
At a hastily arranged press conference inside the UBS building, about a dozen activists answered questions, while sitting on a stained blue office carpet in front of a vast Occupy London sign. The group said it hoped to avoid confrontation with police and had asked UBS about agreeing temporary use of the site. UBS said it had no comment on this offer.
There seemed little imminent prospect of detente with UBS staff: Soon after the first Occupy banners were hung, UBS workers on the other side of the street pulled down all the blinds in their offices.
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