Stunning pictures of anti-capitalist protesters setting cars on fire and clashing with police outside the new ECB headquarters

Wednesday's protests of the new European Central Bank headquarters by "Blockupy" demonstrators has turned ugly.

In Frankfurt, where the new building is set to open this morning, police cars are on fire, riot police are clashing with demonstrators, and the city's skyline is filled with smoke.

The activists say the "ECB is one of the central institutions enforcing the implementation of the catastrophic policy of impoverishment."

The group is planning a series of rallies and marches later today.