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Showing posts with label economic. Show all posts
Showing posts with label economic. Show all posts

Sunday, June 19, 2011

Spaniards protest for economic reform

Madrid (CNN) -- Tens of thousands of protesters converged on central Madrid Sunday as the so-called May 15 movement pushing for political and social change in Spain again took to the streets.


Madrid's was the first major demonstration of the day and drew some 37,000 people, Spain's state-run news agency reported, citing a consulting firm it hired to estimate the size of the crowd.


Protests were planned in 55 other Spanish cities later in the day and had gotten underway in Barcelona, Bilbao, Valencia and other cities, Spanish media reported.


The protests focused again on Spain's 21% unemployment rate and on the government's economic austerity measures. But on Sunday, they also rallied against European Union efforts to stabilize the euro, with many protesters worried that could lead to more austerity measures across the EU.


The movement takes its name from the opening round of large protests on May 15 of this year. On Sunday, it unveiled a new tactic in Madrid, when six columns of marchers started in the north, south, east and west of the capital. They walked noisily through neighborhoods, carrying banners and shouting slogans and quickly adding more protesters in a steady march to the Neptune plaza near the parliament building.


GPS: The perils of public debt


A throng of riot police stood by to protect the national parliament, days after violent scuffles occurred between demonstrators and police outside the Catalonia regional parliament in Barcelona last week.


"This capitalistic system doesn't work. It's an unfair system and a lot of people are in a very bad situation, without money," said Eva Fernandez, a social worker who was marching with the "northern" column down Madrid's main boulevard, la Castellana, on Sunday.


Protesters on June 12 dismantled a sprawling tent camp in Madrid's central Puerta del Sol plaza, nearly a month after it sparked large nationwide demonstrations and similar encampments in other cities to demand changes in Spain's political and economic system.


"The main thing we've achieved so far is to gain legitimacy to be able to protest and demonstrate in the streets," said Josua Serrano, a communications worker also marching in the "northern" column. "This civil disobedience is being practiced in a lot of countries now through nonviolent direct action. So people are going to the street without fear."


Before May 15, a series of citizens groups across Spain used social media networks like Facebook to call for protests on May 15. The large response seemed to surprise even the organizers, as tens of thousands of people turned out in Madrid, Barcelona and other cities.


The crowds have been dominated by young people, but also included retirees and families with young children. Demonstrators had a long and varied list of demands, but an underlying current was a call for change in Spain's political and economic system, to make it -- according to the protesters -- more democratic.


The movement gained force, with daily demonstrations involving thousands of people nationwide, in the run-up to May 22 municipal and regional elections. The conservative Popular Party was the big winner in that vote and now is poised, many analysts say, to win national parliamentary elections over the ruling Socialists. Those elections are expected no later than next March.


But the protesters have said repeatedly that neither of the two main parties represents their interests. Several protesters told CNN they voted for smaller parties which are farther left than the Socialists.

The protests of the May 15 movement have been largely peaceful, with police standing by. But there were scuffles, arrests and minor injuries at various flash points, including in Barcelona last week.


CNN

Sunday, June 5, 2011

Portuguese vote in snap election amid economic woes

Leader of the centre-right Social Democratic Party (PSD) Pedro Passos Coelho greets supporters on June 3 in Lisbon.The election is triggered by the resignation of Prime Minister Jose SocratesHe now serves as a caretaker prime ministerPedro Passos Coelho, the leader of the Social Democratic Party, is running against him

(CNN) -- Voters in Portugal head to the polls Sunday after months of a caretaker government and financial woes that sparked a request for an international bailout.

The early election was triggered by the resignation of Socialist Prime Minister Jose Socrates in March after the country's parliament rejected his austerity plan intended to ease the financial crisis.

Opposition parties voted down the plan, which they said hurts the poor.

Socrates, who had threatened to resign if the plan failed, said the opposition decision hurts the country. He now serves as a caretaker prime minister.

"The obstruction from the opposition ... was taken to intolerable levels." Socrates said at the time. "It wasn't just about obstructing the government, it was about obstructing the country."

The defeated plan was the latest in a series of austerity measures aimed at resolving Portugal's financial crisis after it admitted it needed help.

In April, the Portuguese government, led by Socrates, said it had submitted an application for aid to the European Commission.

It joined other countries, including Greece and Ireland, that have required bailouts.

Socrates said the request for outside help was a last resort.

"I think we have reached the moment whereby not taking this decision would bring further risks that the country should not face," he said.

Socrates' admission came just hours after the government was forced to pay a huge premium to borrow short term cash, ratcheting up the pressure on its finances.

The cost of Portugal's borrowings has gone up drastically since Socrates resigned in March.

Portugal was due to repay more than E4 billion ($5.68 billion) to investors in April, followed by payments of almost E5 billion mid-June.

The June repayments are considered a pressure point with the added complication of the snap election Sunday.

Pedro Passos Coelho, the leader of the Social Democratic Party, is slightly ahead of Socrates in the latest poll.

CNN's Isa Soares contributed to this report.


CNN