ECB set to inaugurate 1.3-bn euro headquarters in Frankfurt

PanARMENIAN.Net - The European Central Bank officially inaugurates its new 1.3-billion euro headquarters in Frankfurt on Wednesday, March 18, under tight security with more than 10,000 anti-austerity demonstrators planning a protest rally, AFP reports.

The ECB already moved into the 185-metre (605-foot), steel and glass towers, situated on the Main river running through Germany's financial capital, late last year.

But the spectacular skyscraper costing the equivalent of $1.4 billion will be officially inaugurated in the presence of ECB president Mario Draghi at 11:00 am (1000 GMT) on Wednesday, with between 60 and 100 invited guests.

Given the raging Greek debt crisis, the central bank has decided to keep the celebrations relatively low-key with just 20 guests from outside the institution.

A security zone has been erected a few hundred metres away to prevent any of the anti-capitalist protesters from getting anywhere near.

Marching under the Blockupy banner, groups such as Attac, but also unions will join in the rally, alongside representatives from Greece's leftist Syriza party, and Miguel Urban of Spain's Podemos.

Organizers estimate that at least 10,000 protesters will take part, with a special train of 800 activists arriving from Berlin and 60 buses from 39 different cities across Europe.

While police expect most of the protesters to remain peaceful, water cannon and helicopters are standing by in case the situation turns violent.