European Central Bank Ostend (East End), Frankfurt am Main. The city is the largest financial centre in the Eurozone and the bank's location in it is fixed by the Amsterdam Treaty. The bank moved to new purpose-built headquarters in 2014 that were designed by a Vienna-based architectural office, Coop Himmelbau. The building is approximately tall and will be accompanied with other secondary buildings on a landscaped site on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction began in October 2008, and it was expected that the building will become an architectural symbol for
European Central Bank slow political progress on solving the eurozone crisis, Draghi's statement has been seen as a key turning point in the fortunes of the eurozone. Following up on Draghi's speech, the Governing Council of the European Central Bank (ECB) announced on 2 August 2012, that it "may undertake outright open market operations of a size adequate to reach its objective" in order to "safeguarding an appropriate monetary policy transmission and the singleness of the monetary policy". The technical framework of these operations was formulated on 6 September 2012 when the ECB announced the launch of the Outright Monetary Transactions programme (OMT).