ECB spend 1 billion on a new building in Frankfurt while insisting on austerity for the rest of us

international | anti-capitalism | other press Tuesday November 20, 2012 10:06 by serf

The ECB is currently building a luxury tower for itself in Frankfurt with an eye watering price tag of 1 billion. Meanwhile they continue to force austerity on the rest of us.

It seems vulgar at a time when social programmes are being slashed right across Europe, that one of the main institutions driving this agenda as a condition for it's loans, ( called "bailouts" but in practice used mainly to reimburse bondholders and banks, not to help the citizens ) sees fit to build itself a luxury tower in Frankfurt with an estimated eye watering completion price tag of 1 billion euro according to some sources, despite an initial estimate of 500 million euro.

Online commenters have compared it to the tower of Babel, no doubt alluding to the hubris factor. It's interesting to note that our last repayment would have covered the cost of this luxury building quite nicely.

some links related to this building:

http://www.bbc.co.uk/news/world-europe-19675964

http://www.telegraph.co.uk/finance/newsbysector/constru....html

https://en.wikipedia.org/wiki/European_Central_Bank_Hea...rters

http://www.ecb.int/ecb/premises/html/index.en.html

http://jewish-voice-from-germany.de/cms/when-architectu...self/

http://hat4uk.wordpress.com/2012/08/13/why-has-work-alm...ters/