Spain Announces Massive Cuts Amid Intensifying Protests [View all]

[Fire Walk With Me]

Police fire rubber bullets into crowds of demonstrators
- Common Dreams staff

Prime minister Mariano Rajoy announced the latest round in massive austerity cuts to Spain's public spending on Wednesday as police fired rubber bullets at protesters during growing demonstrations in Madrid.

Miners marching into Madrid to meet with tens of thousands of supporters (AFP Photo/Dani Pozo) The $79.85 billion austerity package is designed to meet conditions imposed by the European Union in exchange for the $122.9 billion bailout package for Spain's failing banks, and will include cuts to unemployment benefits and civil service pay.

The plan also includes calls for privatization of public assets, budget cuts, tax increases, and a raise in retirement age by two years.

http://www.commondreams.org/headline/2012/07/11-2