Street Riots in Spain: Workers of the World Unite Against Fiscal Sanity

Verum Serum

Here’s video of the “day of action” in Barcelona, Spain:

Sky news has a report that explains who is protesting and why:

Tens of thousands of demonstrators from across the EU converged on the streets of Brussels, and up to 5,000 protesters marched in Warsaw.

Spanish unions staged a general strike and trade unions called protests in 11 other capitals to oppose measures such as spending cuts and pension and labour market reforms.

“This is the start of the fight, not the end. That our voice be heard is our major demand today – against austerity and for jobs and growth,” John Monks, head of the European Trade Union Confederation (ETUC), told marchers in Brussels.

Labour reforms were being pushed through by Spain’s Prime Minister Jose Luis Rodriguez Zapatero as part of plans to save Europe’s fourth-largest economy from a bailout – like the one that saved Greece from bankruptcy.

As governments are on the verge of collapse, they are demanding no more cuts, as if money can just be collected at will. Not surprisingly, this has markets nervous.

It’s time to face down the unions before they lead more of us over the brink. And make no mistake. The folks planning to gather in DC this Saturday under the “one nation” banner are part of this same movement. [Emphasis CAJ]

Related: Despite European chaos, the dollar is slipping against the Euro and the Yen thanks to anticipation of more Keynesian economics from the Obama administration.

There’s more video at Verum Serum.

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