Central Banking

ECB fails to find builder for new headquarters

The European Central Bank (ECB) said on Wednesday that it had closed its tender for the construction of its new headquarters as contractors' estimates were well above what the central bank had budgeted for.

"The public tender did not produce a satisfactory economic result as the central bank's estimated budget was considerably exceeded," the ECB said, adding that it had "consistently demonstrated its resolute commitment to the responsible use of resources."

The ECB opened the tender in August

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