Like art markets and financial markets, Bank of NO isn't confined by national borders. It conducts business in austerity-bound Cyprus and now the city of Leipzig. Bank of NO crosses over the waters of the Mediterranean and it also crosses the waters of history. In Leipzig it will now re-open Bankhaus Meyer & Co, the last private bank in the GDR whose owners became refugees from Nazi Germany in an earlier chapter of history. This makes a circular migration through time with people now crossing the Mediterranean in hopes of reaching Germany.
Leipzig is a strategic location for a Bank due to richness in artistic assets, especially old factory space and painting. In Leipzig, art is known to have a transformative effect on citizenship itself, helping to put the city on the map. The new Bank of No branch taps into this unique market by issuing free art currency. It reflects the richness of painting in Leipzig by rolling large paintings through public space. The coins of Bank of NO spin like the circular movement of refugees to and from Germany. Artistic surplus transformed into long-term political investments.
Project by: Noah Fischer (US), Joulia Strauss (RU), Csaba Nemes (HU), Raúl Hott (CL) and Nurtane Karagil (CY)
Halle 14, Leipzig
TERRA MEDITERRANEA: IN ACTION
Duration: September 17 until November 20, 2016