| Sir Edward George | ||||||
Many bankers Euromoney has spoken to are fearful that anti-capitalist and anti-globalization protesters will severely disrupt this year’s IMF/World Bank meetings – and some even refuse to discuss the issue on the record because they don’t want to give the protesters the oxygen of publicity.
Sir Edward George, governor of the Bank of England, takes a different view. Yes, he says, many of the protesters deserve to
have their say and no, their presence won’t render the meetings obsolete.
“No. I don’t think they [the meetings] will become less productive. There are a lot of meetings, of course. For me the G7 meeting is the most policy-oriented and, with fewer people, there is a more intensive interchange. Then there is the G10 meeting of finance ministers and governors, which is larger and more formal. I don’t get involved so much in the development committee meetings and actual IMF and World Bank meetings, which are solely prepared public speeches.
“Up until now we’ve been able to convene normally despite the protests. And I’m encouraged that there will be engagement between the official sector and legitimate NGOs. That’s important, because a dialogue has to be had. There are some serious points that people want to make. There is a debate about free and fair trade.
“All that dialogue is necessary and useful. What I would hope is that those people with serious points to put wouldn’t provide cover for the anarchists who aren’t making any constructive points but are simply there to disrupt.”
