I walked around the City of London this morning. Sunlight filtered through the banks and sandwich bars of the narrow streets, occasionally reaching the road, more often than not reflected from the acres of glass left gleaming and untroubled the the events of the previous days.
Around the Bank of England I searched for evidence of the violence and anarchy from the hard-core of the idiots who visited the G20 summit only to cause trouble. A rather lonely scrawl of “Fuck Capitalism” could be seen under the Bank’s museum entrance sign, and on the other side, more wittily someone had written “Because we’re evil” under a “No Bicycles” sign.
The small branch of RBS that had made the news as the nexus of ‘public’ anger had two windows boarded up and a rather cheerful offer of 3.5% interest on a cash ISA in the next.
Down Bishopgate where the peaceful Climate Camp had stretched for half a mile, before the Police decided to recycle their tents into environmentally unfriendly shopping bags, there was even less evidence that anything had happened.
The G20 had come, the G20 had gone, some people wanted a bit of a shout about it, and had achieved some commemorative mug shots of being oppressed to share with their mates on MySpace. Somebody accidentally died, and to everyone’s amazement it wasn’t Gordon Brown of embarrassment.
The concrete achievements of the G20 are hard to assess at this stage. Much of the money touted in the ‘historic’ $5 trillion package was from pre-announced national fiscal stimuli, much was optimistic, and much is likely to disappear after the cheerful world leaders go home to do hard sums with their Finance Ministers, several of whom will need to be coaxed down from the window ledges of their Treasuries.
What is clearly new though is the attitude and approach.