‘Blockupy’ Protests Break Out in Frankfurt as ECB Opens New Building

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FRANKFURT—Scattered incidents of violence broke out Wednesday across Germany’s financial capital alongside demonstrations against austerity timed to the inauguration of the European Central Bank’s new headquarters.

While most parts of Frankfurt remained peaceful, a policeman on patrol said some police cars had been set on fire and some protesters burned tires. Police used water cannon on some protesters.

‘European unity is being strained. People are going through very difficult times.’

—ECB President Mario Draghi

ECB President Mario Draghi defended the bank’s policies at the inauguration ceremony, warning that moving toward more isolation and nationalization wouldn’t solve Europe’s problems.

“European unity is being strained. People are going through very difficult times,” Mr. Draghi said in prepared remarks at the inauguration. Read the rest of this entry »