Central bankers meet at BIS

["Max" <max at ocdbgroup.net>]

Central bankers meet at BIS
Sat Jun 25, 2005 12:41 PM ET 
By Stella Dawson
http://tinyurl.com/9ucoy

BASEL, Switzerland (Reuters) - Anti-globalization protestors dressed as 
monks fell to their knees in mock prayer to the gods of money as the 
world's most powerful central bankers gathered for their annual summit on 
Saturday. 

"No meetings of the central bank chiefs! End the Basel treats for the 
financial elites!" the group said in a flyer. 

Chanting dirges before fake gold ingots and tossing packets of fake money 
into the air, the group held a mock funeral for alleged victims of 
globalization outside the Bank for International Settlements. 

The street theater marked the first time the BIS, central banker to the 
world where monetary officials from over 55 countries are holding their 
annual meetings this weekend to discuss risks to the world economy and 
financial system, has been the direct target of an anti-globalization 
protest, said BIS spokeswoman Anita Breland. 

Playful protestors tossed pink confetti on police cordonning off the tower 
office of the BIS, which is celebrating its 75th anniversary this year. 

"This is one of the first symbols of globalization," said Ernst Znsle, an 
organizer of the informal band of about 20 men and women, who described 
themselves as anarchists and veterans of marches against the World Trade 
Organization based in Geneva and World Economic Forum annual summit in 
Davos. 

"Seventy-five years is enough!" their signs read. 

"The BIS is very important because it connects to all the central bankers 
and they work with the World Bank and the International Monetary Fund, who 
are responsible for bad policies," said Znsle. 

BIS Secretary General Peter Dittus talked informally with the group but 
they made no formal request to meet, Breland said. 

"We just want to draw attention to this secretive bank in our midst," said 
one protestor. 

Central bankers looked bemused. "What? A protest?" said Belgian central 
bank governor Guy Quaden as he headed to BIS. 

Set up in 1930 to handle Germany's reparation payments after World War I, 
BIS has evolved into a forum for central bankers from major industrialized 
and emerging countries, providing them with research and support for their 
regular meetings on the world economy, banking and financial markets. It 
also assists central banks with financial transactions.