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From The Socialist newspaper, 15 February 2007

HSBC imposes charges on aid to Palestinians

HSBC BANK that has offices in 77 countries, claims to be a 'socially responsible corporation'. However, this doesn't seem to apply to the humanitarian plight of Palestinians living in the Gaza strip and the Israeli occupied West Bank territories.

According to the charity Oxfam, HSBC has charged the European Union (EU) 1.9 million in bank charges on transfers of EU aid to relieve 140,000 Palestinians living in poverty. Unbelievably, for each money transfer HSBC creams off eight euros.

Because of the economic stranglehold imposed by the Israeli authorities on the Palestinian Authority (PA) and the imposition of US, EU and Russian economic sanctions following the PA election victory of Hamas in January 2006, unemployment and levels of poverty amongst ordinary Palestinians have rocketed. Unemployment is officially 30%, while 57% of workers earn wages below the poverty line. Infant mortality in Gaza is now 24%.

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In The Socialist 15 February 2007:

Scrap student fees now

Cardiff students build for 22 February

Students must link up with workers

'Saintly' Tesco


Campaign for a New Workers Party

A great step forward in Liverpool


War and terrorism

Bush threatens Iran over Iraq insurgency

100 billion Trident?

Angry refugees protest


Socialist Party feature

Ten years of the socialist: 1997-2007


Bird flu outbreak

Bird flu outbreak: Profits put before health

Job losses fear on turkey farms

Workers' health jeopardised


Socialist Party NHS campaign

Fighting back against NHS cuts


Socialist Party news and analysis

Police raids dividing community

Save our school buses

84 million penthouse


International socialist news

Workers' strike declared illegal

HSBC imposes charges on aid to Palestinians


Workplace news and analysis

PCS action continues

Simclar workers fight sackings

EDS forced into 'U' turn on pay

Greenwich workers prepare to fight

Hackney UNISON


 

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