Thousands of people are expected to take part in the anti-austerity rally which will take place on March 18 in Frankfurt, in support of Greece and other countries that have been forced to live under austerity measures. The rally organizers believe that the European Central Bank is partly responsible for the enforcement of austerity policies.
Similar rallies took place in Cyprus recently, where the ECB Governing Council was meeting, showing the people’s dissatisfaction with the way the ECB has been handling the situation, trying to distance itself from the Eurozone’s political issues.
“The main reason for the protest is that the ECB is in the troika and the troika is responsible for the austerity policies that have pushed so many into poverty,” said Ulrich Wilken, one of the rally organizers. The ECB has the power to influence the decision-making process, since it provides funding to countries that face financial difficulties.
Meanwhile, Greek Finance Minister Yanis Varoufakis recently criticized ECB’s policy in regards to Greece, blaming the institution for suffocating the Greek government. “They are not democratically elected, yet they push governments into taking action all the time. We saw this again in the manner in which they made the terms harsher for Greece to get finance after the election,” noted Wilken, in regards to ECB board members.