London faces possible ‘severe’ terror test
City firms in London have been warned to remain vigilant against the threat of terrorism.
The head of the Financial Services Authority (FSA), Callum McCarthy, told City bosses at banks and exchanges that the July 7th atrocities were appalling but could have been worse.
The speech comes as the government is set to strengthen terror laws, with the creation of a new offence of glorifying acts of terror and possible new powers to hold terror suspects for up to three months.
In his Mansion House speech last night, the city watchdog’s chief said firms should prepare for a possible more “severe test” in future.
“It is therefore important that we learn lessons from July 7, and apply those lessons to circumstances which can be easily envisaged and which would constitute a more severe test,” he said.
He said the July bombings demonstrated financial services should repeatedly test back-up plans.
Mr McCarthy said the FSA, Bank of England and Treasury should work to ensure markets continue to operate smoothly even when under assault.
Osama bin Laden’s purported deputy, Ayman al-Zawahri, earlier this month said the attacks were a direct reaction to the UK’s foreign policy in the Middle East and the rejection of the “truce” al-Qaida offered Europe in April 2004.
He said the British government’s foreign policy would bring more “destruction” and “catastrophe” to the capital.
In a more recent message, al-Zawahri admitted for the first time that al-Qaida carried out the July atrocities.
Al-Zawahri said al-Qaida had the “honour” of carrying out the attacks in response to “Zionist”, “crusader British” arrogance and the “aggression” of Britain against the Muslim nation “for over a hundred years”.
The purported voice of al-Zawahri said the attacks revealed “the true hypocritical face of Western civilisation” that talks about human rights and freedom only as long as it is in its national interest.
The July 7th terror atrocities on London’s transport network left 52 people dead and hundreds injured.
