Anti-cuts riots grip Spain as Europeans fight back against austerity


The Spanish government is introducing a new bunch of austerity measures today. Prime Minister Mario Rajoy has said that he may yet ask for a bigger bailout, and he's getting a pasting from financial journalists pretty much everywhere for his handling of the situation.

"Spanish protesters marched for a second night in Madrid, calling on Prime Minister Mariano Rajoy to reverse austerity measures as his government prepared its fifth package of budget cuts," writes Emma Ross-Thomas for Bloomberg this morning.

Meanwhile, as The Independent reports, there is also unrest in Athens, another country that has bourne the brunt of the eurozone crisis. Nathalie Savaricas reports on people in the streets chants "We don't owe [money] to anyone, bring back what's stolen."

The Independent also has the latest on Spain: "The Spanish government will unveil a new raft of austerity measures today amid mounting concerns over the country's economic future. Many think the grim measures, which are expected to include higher taxes and changes to pensions, will be a precursor to a request for help from the European Central Bank. Recession-hit Spain has come under pressure to tap an ECB bond-buying programme, designed to keep a lid on the country's borrowing costs. So far the government has been reluctant to ask for help for fear of the conditions attached."