Non-profit association Frankfurter Kultur Komitee (FraKK) announced it would auction the euro sculpture outside the former European Central Bank in Frankfurt, Germany because of its expensive maintenance.
FraKK, the sculpture’s owner, said it had planned to have the auction in mid-October.
FraKK said its finances could no longer maintain a safe condition for the sculpture. The association added that the increased vandalism in the last two years “used up” its finances.
According to FraKK, using the association’s finances to maintain the euro sculpture led to the forced cancelation of its activities relating to racism and euro promotion in schools.
FraKK said it was forced to auction the sculpture after failing to secure new sponsors during a round table discussion in April.
The giant blue sculpture, around 14 meters high, was established in 2001, marking the introduction of the euro currency. Private sponsors have been financing the maintenance of the sculpture.
FraKK said the euro symbol had been part of Frankurt’s identity.
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