Angered by the latest austerity measures and budget cuts, and calling for the Spanish government to resign, thousands thronged the streets of Madrid on Saturday.
Tens of thousands of Spaniards marched on Spain's parliament in Madrid on Saturday evening, accompanied by a massive police escort, and closely guarded by officers with dog teams and in full riot gear and many police vans.
The march, which was 2.3 kilometers long, was organized by the "Surround Parliament" protest group, as part of the ongoing anti-austerity protests in the country.
On arrival at the parliament building, the protesters were met by an even bigger police presence, which pushed them back, using a chain of metal barricades.
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As tens of thousands of jobs were lost in the third quarter of 2012, with a bank bailout a strong possibility, demonstrators have had enough.
70-year-old Alan Pipo told the AP, “And now they are going to give banks a bailout, rescue them as if they were princesses."
"They should be put out on the streets, just like all those families who are being evicted from their homes because they are unable to keep up with mortgage payments!" he added.
Paloma Martinez, 62, said, We can't go on like this. We have a right to a public health system and quality schools for our kids. We are indignant and have no fear."
At one stage, the protesters held a minute's silence, with their backs turned on parliament, showing their condemnation of the Spanish's government's policies which have caused a quarter of the Spanish people to become unemployed. They then shouted "resign" with their fists clenched.
Part of the crowd also protested in front of Bankia bank, where a group has been camping out since Monday of this week, demanding a halt to the evictions that have so far affected 400,000 families in Spain.
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National police officers protest in Madrid, Spain, October 27, 2012
As reported on Digital Journal, earlier in the day, almost 3,000 off-duty police officers also took to the streets to protest austerity measures and the fact that their Christmas bonuses are to be taken away and carrying banners stating "Police officers can no longer take it."
With 25% of the country unemployed, with a staggering 52.34% of the young unable to find work, Prime Minister Mariano Rajoy has hiked taxes, introduced harsh labor reforms and cut spending, as he tries to persuade investors that his government can manage the crisis without a full bailout.
Spain's troubled banks have been granted a 100 billion euro ($130 billion) loan facility by the 17 eurozone countries.
However, some researchers say that instead of cutting spending, it might be wiser to increase it.
Jerome Roos, a searcher on the EU debt crisis at the European University Institute in Florence, and founder of ROAR Mag, told RT, “The alternative is actually not to cut spending, but to invest in the economy, to invest in growth to make sure that there are jobs. And the only way to ultimately get out of this debt, is to grow out of debt and not to cut your way of debt.”
“Clearly things can’t continue the way they are now. Spain would do very well to heed the lessons that were learned in the past decade from three other countries - Argentina, Ecuador and Iceland - each of which defaulted on part of its external debt.”