Riot police and protesting miners have clashed in Madrid as the Spanish prime minister Mariano Rajoy announces more sweeping austerity measures, including a rise in VAT and other taxes, and increases to spending cuts.
First thing this morning when discussing the upcoming festivities in Europe in the aftermath of Spain’s decision to hike sales tax from 18% to 21%, while making sure it is the common people who get hurt in the upcoming bank nationalization in which sub notes and hybrid debt is impaired, largely held by retail investors as the FT showed yesterday, we said that “Spain promised to crush its middle class even more by impairing retail held sub debt and hybrids, while forcing them to pay more taxes, a move which will lead to some spectacular Syntagma Square riotcam moments.” Three hours later and the riotcam is now live.
Madrid (CNN) – Spanish police used rubber bullets and batons to disperse protesters in central Madrid, witnesses in the city said Wednesday.
Hundreds of people quickly moved out of the area as police moved in.
Protesters, including a group of miners who have marched on the capital, are demonstrating against Spain’s government and the austerity measures it is imposing as it seeks to curb the country’s debt crisis.
Madrid’s ambulance service said 43 people were injured in clashes at or near the Industry Ministry.