Police Close Off London's Financial District

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Police cordoned off much of London's financial district today as thousands of protesters from an array of perspectives rallied ahead of the G20 economic summit. Officials estimated that at least 4,000 people have jammed into the area, with some chanting "Abolish Money" as they marched down the clogged streets. Climate change activists pitched tents and organized sit-ins in front of buildings and anti-war campaigners held separate rallies nearby.

A few of the protests turned violent — one band of demonstrators smashed windows of the Royal Bank of Scotland, scrawled the word "thieves" on the outside and stormed into the building. Photos from the protests show some demonstrators with bloodied faces from confrontations with the police. And at least 14 people were arrested in connection with the demonstrations.

Police have closed off all roads leading into the financial district and aren't allowing any more demonstrators to enter or leave the area. Marina Pepper, a British activist who helped organize the protest, told the CBC that clashes with police escalated after the area was cordoned off.

"Capitalism isn't in crisis — capitalism is the crisis," Pepper said. "The profits of a few people making lots of money is seen as more important than the needs of people all around the world."

Bankers were warned by authorities not to wear pinstripe suits on Wednesday and many opted for casual clothes or stayed home. But some financial workers taunted protesters from the upper level windows of buildings in the area and waved £10 notes at them.