To the East Enders who lived nearby, the artwork was known as "Old Flo," a stalwart symbol of people facing oppression with dignity and grace.
But now, Old Flo may have to go.
The cash-strapped London borough of Tower Hamlets, one of the poorest communities in Britain, plans to sell the statue — estimated to be worth as much as 20 million pounds ($30 million).
Art lovers fear the sale of such a famous sculpture would set a worrisome precedent, triggering the sell-off of hundreds of lesser works housed in parks, public buildings and little local museums as communities throughout Britain struggle to balance their budgets amid the longest and deepest economic slowdown since the Great Depression.
"If the sale of Old Flo goes through, it can open the flood gates," said Sally Wrampling, head of policy at the Art Fund, the national fundraising charity for art and one of the groups campaigning to block the sale.
The proposal embodies a dilemma faced by many struggling households: Do you sell the family silver to get through tough times?
