Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Technology
Media
Small Business
Legal
Deals
Earnings
Social Pulse
Business Video
The Freeland File
Aerospace & Defense
Investing Simplified
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
Dividends
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
India Insight
World Video
Reuters Investigates
Decoder
Politics
Politics Home
Election 2012
Campaign Polling
Supreme Court
Politics Video
Tech
Technology Home
MediaFile
Science
Tech Video
Tech Tonic
Social Pulse
Opinion
Opinion Home
Chrystia Freeland
John Lloyd
Felix Salmon
Jack Shafer
David Rohde
Nader Mousavizadeh
Lucy P. Marcus
Nicholas Wapshott
Bethany McLean
Anatole Kaletsky
Edward Hadas
Hugo Dixon
Ian Bremmer
Lawrence Summers
Susan Glasser
The Great Debate
Steven Brill
Reihan Salam
Frederick Kempe
Christopher Papagianis
Mark Leonard
Breakingviews
Equities
Credit
Private Equity
M&A
Macro & Markets
Politics
Breakingviews Video
Money
Money Home
Tax Break
Lipper Awards 2012
Global Investing
MuniLand
Unstructured Finance
Linda Stern
Mark Miller
John Wasik
James Saft
Analyst Research
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Money Clip
Investing 201
Life
Health
Sports
Arts
Faithworld
Business Traveler
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Reuters TV
Reuters News
Article
Comments (0)
Slideshow
Full Focus
Editor's Choice
Our best photos from the last 24 hours. Slideshow
Download our Wider Image iPad app
Images of October
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
Israel hammers Hamas in Gaza offensive
|
14 Nov 2012
Hamas rocket kills three in Israel, wider war looms
|
2:24am EST
China's new party chief Xi gets strong mandate for action
|
1:53am EST
Petraeus mistress had substantial classified data on computer: sources
|
14 Nov 2012
Special Report: How a vicious circle of self-interest sank a California city
13 Nov 2012
Discussed
170
Obama plans ”fiscal cliff” statement as showdown looms
146
Top Hamas commander killed in Israeli airstrike
114
Republicans say deal can be done on ”fiscal cliff”
What's next for South Sudan?
Reuters is chronicling the first year in the life of South Sudan - and assessing the odds of whether it will flourish or fail. Live Coverage | Slideshow
South Sudan's Chinese oil puzzle
A rocky start for the world's newest nation
South Sudan rebel now president takes on poverty
In South Sudan, a state of dependency
The wonks who sold Washington on South Sudan
Sponsored Links
Anti-austerity marches turn violent across southern Europe
Tweet
Share this
Email
Print
Related News
Chuck Schwab says "fiscal cliff" resolution not likely by December 31
Wed, Nov 14 2012
Analysis & Opinion
Mapping the saga of San Bernardino
Brexit could come before Grexit
Related Topics
World »
Investing Simplified »
Spain »
1 of 13. Policemen watches a flare during clashes with protesters at the 24-hour nationwide general strike near the Parliament in Lisbon, November 14, 2012. Spanish and Portuguese workers will stage the first coordinated general strike across the Iberian Peninsula on Wednesday, shutting transport, grounding flights and closing schools to protest against spending cuts and tax hikes.
Credit: Reuters/Hugo Correia
By Feliciano Tisera and Daniel Alvarenga
MADRID/LISBON |
Wed Nov 14, 2012 10:56pm EST
MADRID/LISBON (Reuters) - Demonstrations turned violent in Spain and Portugal after millions took part in a mostly peaceful general strike on Wednesday in organized labor's biggest Europe-wide challenge to austerity policies since the debt crisis began three years ago.
In Lisbon, marches ended with a level of violence not seen since the crisis began, with police charging demonstrators who hurled stones and bottles, leaving nearly 50 people hurt.
Protesters in Madrid burned rubbish bins, filling the central boulevard with smoke, while in Barcelona demonstrators burned police cars.
Riot police fired rubber bullets to disperse protesters in both cities, where more than 140 people were arrested, including two said by police to be carrying material to make explosives, while more than 70 were reported injured.
Hundreds of flights were cancelled, schools were shut, factories were at a standstill and trains barely ran in Spain and Portugal where unions held their first joint general strike. Stoppages in Belgium interrupted international rail services.
Workers also protested in Greece and France against austerity policies that have taken a heavy economic toll and aggravated mass unemployment.
But the demonstrations organized by the European Trade Union Confederation seemed unlikely to force hard-pressed governments to change their cost-cutting strategies.
"In austerity, there is only depression and unemployment," Fernando Toxo, head of Spain's biggest union, Comisiones Obreras, told a packed Columbus Plaza in central Madrid.
Even non-union workers jointed protests and marches.
"This isn't about politics or unions. This is social and economic. If we have to shut down the country we'll shut it down," said 24-year-old Mariluz Gordillo, a non-unionized phone operator at El Corte Ingles department store in Madrid.
In Rome, scuffles broke out between police in riot gear and demonstrators who threw stones, bottles and fireworks. About 60 demonstrators were detained. Protesters occupied Pisa's mediaeval Leaning Tower for an hour, hanging a banner reading "Rise up. We are not paying for your crisis".
DEEPENING RECESSION
In Portugal and Greece - both rescued with European funds and under strict austerity programs - the economic downturn sharpened in the third quarter, according to figures released on Wednesday.
Portuguese unemployment jumped to a record 15.8 percent while in Spain, one in four of the workforce is jobless.
Greece's economic output shrank 7.2 percent on an annual basis in the third quarter as the debt-laden country staggers towards its sixth year of depression.
Close to 26 million people are unemployed in the European Union while governments cut spending.
"Things have to change... Money has ended up with all the power and people none. How could this happen?" said Esteban Quesada, 58, a hardware store owner in Barcelona.
Throughout southern Europe governments are trying to put public finances back on track after years of overspending. Portugal and Greece have cut pensions and, with Spain, have slashed public sector wages as well as spending on hospitals and schools. Italy and France are also under pressure to control their budget deficits.
EU Economic and Monetary Affairs Commissioner Olli Rehn praised Spain for making progress in trimming its budget but acknowledged many Spaniards are struggling.
Germany's central bank, the Bundesbank, said in a report on Wednesday that the euro zone debt crisis is still the number one risk to German banks and insurers, and the situation had not improved from last year.
Promises from the European Central Bank to support sovereign bond prices for countries that seek aid have brought some relief to Spain and Italy in the capital markets. On Wednesday Italy sold 3-year bonds at the lowest borrowing cost in two years.
SPAIN TO STAY THE COURSE
The protests seem unlikely to force significant policy shifts. Spanish Economy Minister Luis de Guindos said the government would press on with spending cuts to meet ambitious deficit cutting targets, despite the strike.
Union leaders in Spain said more than 9 million workers had joined the general strike - the second this year.
The government said participation was much lower and many services were functioning normally. Stores opened in many parts of the country, though some had protesters outside.
About 5 million people, or 22 percent of the workforce, are union members in Spain. In Portugal about a quarter of the 5.5 million strong workforce is unionized.
Passions were inflamed when a Spanish woman jumped to her death last week as bailiffs tried to evict her from her home. Spaniards are furious at banks being rescued with public money while ordinary people suffer.
In Portugal, there is growing public and political opposition to austerity measures sought by Prime Minister Pedro Passos Coelho.
Inspectors from the "troika" of the International Monetary Fund, ECB and European Commission - who monitor implementation of bailout conditions - drew the protesters' anger. In Lisbon, thousands gathered in front of parliament shouting "This debt is not ours" and "Out IMF, out troika".
In Spain, protesters jammed cash machines with glue, and plastered anti-government stickers on shop windows. More than 600 flights were cancelled in Spain, mainly by Iberia and budget carrier Vueling. Portugal's TAP cancelled about 45 percent of flights.
In Greece, hundreds of strikers rallied peacefully in central Athens, holding giant Italian, Portuguese and Spanish flags and banners proclaiming "Enough is enough."
In France, trade unions organized marches in more than 100 cities but did not call for a strike.
(Additional reporting by Miguel Pereira and Andrei Khalip in Lisbon, Blanca Rodriguez, Carlos Ruano and Borja Gonzalez in Madrid, Ben Deighton in Brussels, Braden Phillips in Barcelona, Philip Pullella and Naomi O'Leary in Rome and Karolina Tagaris in Athens; Writing by Fiona Ortiz and Paul Day; Editing by Paul Taylor, Angus MacSwan, Peter Graff and Giles Elgood)
World
Investing Simplified
Spain
Related Quotes and News
Company
Price
Related News
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.
Edition:
U.S.
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Support
Corrections
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Podcast
Newsletters
Mobile
About
Privacy Policy
Terms of Use
AdChoices
Copyright
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.