Thousands of “Blockupy” protesters gathered in Frankfurt on Friday, surrounding the European Central Bank to air their concerns about euro-crisis policies. Both the banks and police were reportedly well-prepared for the anti-capitalist demonstration.
An estimated 2,500 supporters of the anti-capitalist group “Blockupy” demonstrated in the German financial capital of Frankfurt on Friday, blocking access to the European Central Bank (ECB) in protest of euro-crisis austerity policies …//
… Banks Prepared for Protest:
As the protest got underway in the morning, riot police surrounded the ECB building and took positions at other nearby financial institutions, while a helicopter hovered overhead. A police spokesman said he wouldn’t necessarily characterize the event as a blockade, however.
Banks in the area were reportedly able to prepare for the demonstration, with many employees either taking the day off or working from home. Some traders were also reportedly working from undisclosed locations or provisional trading halls.
“So far, besides a few isolated incidents, everything has been peaceful,” a police spokesman told the DPA. Further protests were planned for later in the day in downtown Frankfurt and at the airport, Germany’s busiest international hub.
The demonstrations are being held about one year after some 20,000 people took part in a similar event in the city, when police detained hundreds of protesters. They also come ahead of Europe-wide protests planned for June 1.
- There’s A Huge Protest Outside Of The ECB Today (May 31), on Business Insider, by Joe Weisenthal, May 31, 2013;
- Blockupy-Ticker: Demonstranten solidarisch mit Streikenden – Sitzblockade vor Einkaufszentrum / Polizei knüppelt am Bahnhof in die Menge, auf neues Deutschland/Bewegung, 31.05.2013;
- European Central Bank ECB is one of the seven institutions of the European Union (EU) listed in the Treaty on European Union (TEU). It is the central bank for the euro and administers the monetary policy of the 17 EU member states which constitute the Eurozone, one of the largest currency areas in the world. It is thus one of the world’s most important central banks …;
- Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability …;
- Fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy. The two main instruments of fiscal policy are changes in the level and composition of taxation and government spending in various sectors. These changes can affect the following macroeconomic variables in an economy: …;
- Austerity Auction: Paris Cleans Out the Palace Wine Cellar, on Spiegel Online International, by Stefan Simons, May 30, 2013 (Photo Gallery). For the first time ever, bottles of valuable wine from the presidential palace in Paris will be auctioned off this week. In an effort to raise money, the austerity-strapped government plans to buy less expensive wine with the proceeds, with the surplus going back into the federal budget …;
- Auction of rare wines to raise money for Elysee Palace, on ITV, MAy 30, 2013.