Saturday, July 21, 2012

Unions lead huge protests in Spain

Spain is imploding. Hundreds of thousands of people are taking to the streets, furious at the government for 24 percent unemployment, falling wages and rising taxes.

Half of all Spanish youth are out of work and middle-class families are lining up at food pantries, reports The Telegraph.

AFP tells us more protests are coming:
Spanish protesters on Saturday planned the latest in a series of angry demonstrations against the government's economic crisis cuts, as fears rose for the country's financial stability. 
Saturday's protests come a day after Spain's economic and financial outlook darkened, with the government warning the recession will drag on through 2013, and the interest rates on Spanish sovereign bonds rising to danger levels... 
An almost-daily string of protests erupted after Prime Minister Mariano Rajoy on July 11 announced 65 billion euros ($80 billion) in measures including cuts to pay and unemployment benefits, on top of earlier huge cutbacks. 
Firemen, police officers, nurses, teachers and other workers have massed in the streets outside government ministries yelling: "Hands up, this is a robbery!" 
Protesters say the efforts to cut Spain's deficit are unfairly targeting the poor and will depress the recession-hit economy further.
Looks like austerity isn't working in Spain any better than it worked in Wisconsin.