British financial institutions that benefited from slavery such as Lloyd's of London should go further than saying sorry for their role in the Atlantic slave trade and atone for their sins by funding Caribbean development, the region's countries said.
LONDON - British financial institutions that benefited from slavery such as Lloyd’s of London should go further than saying sorry for their role in the Atlantic slave trade and atone for their sins by funding Caribbean development, the region’s countries said.
While the history of Europe’s scramble for African slaves has been widely known for centuries, the death of George Floyd in the United States has prompted a sweeping global reassessment of racism and the financing of the slave trade. “It is not enough to say sorry,” said Hilary Beckles, chairman of the CARICOM Reparations Commission which was set up by Caribbean countries to seek reparations from former colonial powers such as the United Kingdom, France and Portugal.
The history of several other British financial firms, including Barclays , is also under fresh scrutiny. British institutions, he said, should sit down with Caribbean nations to fund development projects - or even consider a sort of “Marshall Plan” to give some of the plundered wealth back - a reference to the U.S. aid given to Europe after the destruction of World War Two.
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