Amid the riots of protest against the austerity policies of the European Central Bank (ECB), ECB president Mario Draghi opened the new ECB headquarters in Frankfurt in the presence of about 100 invited guests on Wednesday.

"The building is a symbol of the best that Europe can achieve together," said Draghi in his opening speech. The building is 185 meters high and cost 1.3 billion euros (1.38 billion US dollars) to build.

The ECB president also commented on the protests and the many unhappy people in the euro area who have lost income and wealth in recent years on account of the economic crisis.

Draghi made the remarks as 10,000 protesters took to the streets in various places around the German financial capital. Thousands reportedly came from other parts of Europe to attend the protest organized by the Blockupy alliance.

As an institution of the European Union, which has played a central role in the financial crisis, the ECB had become the focus of the frustrated, Draghi said.

"I assume that we can take up those who feel excluded, including many of the protesters, who have come together in Frankfurt this week," Draghi said.

Protesters clashed with riot police on Wednesday morning, the violence leaving at least 88 police personnel injured and leading to 500 arrests. Seven police cars were burned.

The bank, along with the European Commission and the International Monetary Fund, is part of the so-called "troika" that monitors compliance with the conditions of bailout loans for Greece and other financially troubled countries in Europe.

Those conditions are aimed at reducing debt but have also been blamed for high unemployment and slow growth.