Yechury in solidarity with St Paul`s protesters
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Last Updated: Wednesday, November 09, 2011, 11:19
  
London: Lending support to the anti-capitalist protesters camping at the St Paul's cathedral here, CPI (M) leader Sitaram Yechury said the protests were an expression of anger and must push governments towards spending scarce resources on welfare rather than on bailing out corporations.

"On behalf of all the working people of India, I bring you our solidarity," Yechury told the protesters who have been camping outside the St Paul's Cathedral in support of the Occupy Wall Street movement against corporate greed.

Expressing his disgust at the "culture of obscene bonuses," Yechury said the movement has to win or the humanity "will face grave danger".

"In India, we are also involved in similar type of protests. We want the government to spend scarce resources on creating jobs, spend money on people's welfare," the parliamentarian said addressing the protesters here.

He said the popular protests that had been witnessed in many parts of the world were an expression of anger and disgust globally against the predatory pursuit of profit at the expense of the livelihood of billions world over.

These protests, he said, "must force the governments to abandon the current course of bailing out financial corporations, who in the first place generated the present crisis, instead use the same amount of resources for building the much-needed social and economic infrastructure".

"This would lead to the generation of employment and consequent growth of domestic demand stimulating manufacturing and hence set in motion a path of sustained economic growth without burdening either the exchequer or people," he said.

Yechury altered his schedule yesterday to join the Indian Workers' Association, Great Britain, to express solidarity with the protesters.

Yechury said "we assure you that we will be able to force the government. We are also against the culture of obscene bonuses. We will win, we have to win, otherwise humanity will face grave danger".

The protests are an expression against financial and social inequalities in the global economy.

The 'movement', first reported in May, with the occupation of the main square in Madrid, Spain, has spread to the financial districts of New York and London.

Due to lack of space near the Stock Exchange in London the protesters have camped outside St Paul's Cathedral, preventing the Cathedral from opening for the first time since the Second World War.

The aim of the protesters is to highlight growing concerns at the solutions being offered by the G20 and governments of the European Union to tackle sovereign deficits.

"The protesters oppose the exploitation of working people having to pay for the failures of the capitalist system," Yechury said.

The Indian Workers' Association, Great Britain, in a statement endorsed the sentiments expressed by the protesters around the world.

"The IWA puts forward an alternative to the waste of resources in bailing out failed financial institutions and instead seeks investment in social and economic infrastructure, creating employment and growth to revive the economy," Association President Dyal Bagri said.

PTI


First Published: Wednesday, November 09, 2011, 11:19


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