ECB Headquarters: Skyrocketing Costs for Skyscraper Project
Once again, a major German construction project is spinning out of control -- like the new airport in Berlin and Hamburg's Elbphilharmonie concert hall. And, once again, the owner of the property, a public body, is trying to blame the delays and cost overruns on external factors. (DPA)
Estimated costs for the European Central Bank's new headquarters in Frankfurt have more than doubled. As has been happening with so many major projects in Germany, its construction has been plagued by poor planning, oversight and execution -- and endless delays.
— Der Spiegel