Tuesday, September 25, 2012

Anti-Austerity Protesters "Occupy Congress" In Madrid, Spain (9/25/2012)

Watch a live video stream of the protests in Madrid, Spain at http://www.rtve.es/noticias/directo2/. Below are pics from the video. People are protesting against new austerity measures as Spain suffers from a severe deleveraging cycle and an unemployment rate above 20%. In order for Spain to get bank and sovereign debt bailouts, it is being forced to reduce its deficit with tax hikes and spending cuts.

Data from August 16 and August 20: (1) Spain Has Serious Economic Issues, Deleveraging and Austerity (Trends and $EWP); and (2) Delinquent Loans in Spanish Bank Portfolios Break Records in June (Charts). Also, France's economic contraction accelerated in September. So it is getting interesante.

More from SkyNews:

"Thousands of protesters have marched on Madrid's parliament building as anger over austerity measures and tax hikes increases in Spain.

More than 1,000 riot police blocked off access to the building in the centre of the capital.

Officers used batons to push back some protesters at the front of the march.

The demonstration, with an "Occupy Congress" slogan, drew protesters weary of nine months of painful cutbacks imposed by Prime Minister Mariano Rajoy."

From Reuters: Spain prepares more austerity, protesters clash with police

* Protesters, police clash in Madrid
* Spain to detail reform timetable, budget this week
* Budget deficit on course to miss end-2012 target
* Economists see need for extra 10 bln euros cuts this year

MADRID, Sept 25 (Reuters) - Protesters clashed with police in Spain's capital on Tuesday as the government prepares a new round of unpopular austerity measures for the 2013 budget that will be announced on Thursday."

Here are more pics from the live video at RTVE.es.






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