Anti-Austerity Sentiment Grows Despite Economic Improvement

On Monday, European Central Bank President Mario Draghi touted the benefits of ECB interference at a financial conference in Frankfurt, saying that the bank's stimulus efforts have helped turn the tides of the bloc's stalling economy.

Draghi said that the bank's policy shift has helped generate an "upturn in economic conditions" and urged policymakers to continue with necessary reforms to help shore up the eurozone financial system.

A Call For Change

However a growing group of anti-euro supporters are becoming increasingly unhappy with the region's central bank and the austerity measures individual nations are carrying out.

After the leftist Syriza party took power in Greece, support for radical, nationalist parties across Europe began to grow, fueling protests against the bloc's current path.

Protesters Target ECB

On Wednesday, that sentiment was apparent as protesters gathered in Frankfurt to block the inauguration of the ECB's new headquarters.

Around 10,000 people are expected to come together in front of the building throughout the day, playing music, chanting and giving talks that will disrupt the opening ceremonies.

In the early hours of the day, several police cars were set on fire as the demonstrations quickly escalated.

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Eurozone Nations Come Together

The movement, dubbed "Blockupy" included participants from several anti-austerity parties that have gained popularity in different parts of the eurozone.

Greece's Syriza, Spain's Podemos and Germany's Die Linke were all represented at the demonstration.

Anti-Austerity Sentiment Growing

The protests underscore a growing problem as more and more Europeans become frustrated with the currency union.

High unemployment coupled with public spending cuts has raised support for radical parties promising to reverse some of the economic reforms that the ECB claims are necessary to keep the bloc together.