Friday, August 5, 2011

Spanish police attack protesters

Spanish protesters in Madrid, August 4, 2011

Source: Press TV

Spain's riot police have attacked hundreds of demonstrators in the capital city of Madrid protesting the government's handling of the country's economic crisis.

At least 20 people were injured during the Thursday incident after riot police attacked the protesters in front of the interior ministry, AFP reported.

For the third straight day, over 200 police forces were deployed to prevent protesters from blocking Madrid's main square, Puerta del Sol.

This was the most serious incident in Spain since a movement began in mid-May to protest economic crisis, soaring unemployment and political corruption in the country, witnesses say.

Polls show that two-thirds of the population in Spain sympathizes with the movement.

On Tuesday, Spain's sovereign debt risk premiums soared to eurozone record highs, sending jitters into the country's stock markets.

The news has raised fears that Spain -- Eurozone's 4th largest economy -- may be next in line to eclipse the previous bailouts and further undermine the euro.

So far, Greece, Ireland and Portugal have already received bailout packages from the European Union.

The European Commission, however, has rejected the possibility of a debt rescue plan for Spain.

Italy and Spain have been under mounting pressure in recent weeks as markets feel that the size of Eurozone's bailout fund is not sufficient enough to protect larger economies.

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