The Euro sculpture on Willy-Brandt-Platz has been saved and does not have to be dismantled.

As the Frankfurt Culture Committee announced on Tuesday, the Frankfurt financial start-up Caiz Development will cover the maintenance costs for the next five years.

They amount to around 200,000 euros per year.

The money is mainly needed for repairs, especially to repair damage caused by vandalism.

In addition, the electricity costs have to be covered and regular TÜV inspections are necessary, for which a lifting platform has to be organized twice a year.

Daniel Schleidt

Coordinator of the economics department in the Rhein-Main-Zeitung.

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Manfred Pohl, initiator of the symbol and chairman of the Frankfurt Cultural Committee, had announced in the summer that Ottmar Hörl's Euro sculpture would be dismantled and auctioned off in mid-October because, as he said, the association could no longer afford the maintenance costs.

In the search for a sponsor, talks were also held with the European Central Bank and the Hessian Ministry of Finance, but they "didn't lead to any real results".

After reporting on the topic, Caiz Development GmbH, a company that deals with the digitization of banking, became aware of the topic.

Criticism of the city of Frankfurt: "Tough talks"

The sponsorship does not only cover the maintenance costs for the sculpture.

In addition, the main sponsor wants to organize events together with the culture committee.

Pohl criticized the city of Frankfurt in particular.

The talks with the local magistrate, especially with city councilor Eileen O'Sullivan (Volt), were "very difficult".

There have been signals from the Ministry of Finance that grants will only be made possible if the city first puts money into the project.

Sculpture on the roof of Deutsche Bank?

Pohl said the committee then considered five serious offers to do with the sculpture.

One idea was to install the sculpture on the roof of Deutsche Bank.

A company from central Hesse wanted to set it up in the entrance area, and a Berlin professor wanted to put the symbol in the front yard.

Pohl recalled that high-rise lighting was originally planned in 2001, which could not be realized because of the terrorist attacks on September 11th.

As a result, the idea for the sculpture came about and was implemented together with Hörl.

According to Pohl, the symbol represents the Frankfurt financial center worldwide;

for tourists who come to Frankfurt, it is an attraction and landmark.

"It is probably the most photographed object in the city and the symbol that made Frankfurt known throughout the world as a euro city." That's why the statue deserves to be appreciated more by institutions and politicians.

Little interest from the banking world

Jörg Hansen, Managing Director of Caiz Development, said it was natural for him to step in to get the euro symbol.

"I can't understand how that could be up for debate," said Hansen.

He sees sponsoring as a matter of the heart, but also as marketing for his company, which is based in Frankfurt.

It is considered a fintech and has developed a blockchain-based financial inclusion ecosystem.

The aim is to give people worldwide access who currently do not have access to a transaction account.

The Corona crisis ensured that not enough donors were found to finance the costs, Pohl said.

However, he keeps hearing from companies in particular that there is currently nothing that can be done in this regard due to the difficult economic situation.

Many Frankfurt banks have also been written to and asked for smaller amounts in order to secure financing.

Of 34 banks, only eight responded, six raised funds.

Symbol for the euro since 2001

The 14 meter high sculpture was erected at the end of 2001, just before the euro was introduced as cash in 2002. At that time, the European Central Bank was still based next door in the Eurotower.

The ECB President at the time, Trichet, promised to move the sculpture to the bank's new headquarters.

But nothing came of it under successor Mario Draghi, according to Pohl.

The twelve stars on the euro sign stand for the founding members of the European Union.

At the beginning of the new millennium, Pohl, the former head of the corporate archives at Deutsche Bank and chief historian of the group, campaigned for the European currency in various ways;

The Euro sculptures painted by artists and celebrities, which stood on the median of the Mainzer Landstraße between the Alte Oper and the Platz der Republik, among other places, are memorable.

Last but not least, it was thanks to Pohl that on New Year's Eve 2001/2002, when the euro replaced the Deutsche Mark, there was a celebration at the foot of the then new euro sculpture.