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Led By Donkeys unfurl giant 'it's a genocide' banner outside parliament
(www.thelondoneconomic.com)
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I’m disappointed to learn that no actual donkeys led—or participated in any way—the unfurling.
I don't know for sure, but my guess would be that the name refers to the fact that the most powerful people in the world are mostly a bunch of stubborn asses doing the same bullshit no matter what the people wants.
It's an old phrase, "lions lead by donkeys", originally used to describe British soldiers being lead by incompetent generals, possibly during the Crimean war. The concept goes way further back though; apparently an Athenian general in the 4th century said (translated) "an army of deer commanded by a lion is more to be feared than an army of lions commanded by a deer".