Riots Spreading All Over Europe: Deepening Austerity Is Likely To Trigger Massive Civil Unrest And Even Revolution « InvestmentWatch
PARIS – Thousands of demonstrators marched peacefully Sunday in Paris to denounce austerity measures in that have sparked violent protests in other EU countries struggling to avert fiscal crises.
The march, organized largely by the Left Front party and the Communists, comes before the French parliament’s debate this week on a European fiscal treaty. Organizers put turnout at more than 80,000; Paris police declined to provide an estimate.
Thousands of people across Germany have protested for the introduction of taxes on wealth and financial transactions.
Organizers said Saturday around 40,000 people took to the streets in 40 cities to demand a more equal society.
Discontent in Spain and Greece is rising.
Greece’s two largest labor unions went on strike today, disrupting flight and and forcing hospitals to depend on emergency staff.
This is the first general strike in Greece since the coalition government came to power.
Protestors gathering around the Greek Parliament in Athens, throwing Molotov cocktails at the riot police but have been pushed out of the main square now, according to BBC.
Meanwhile, Spain which saw massive anti-austerity protests yesterday, also saw a smaller number of demonstrators take to the streets today. But the demonstrations are expected to gather steam and some reports say 1,300 police officers have been deployed to keep clashes in check.
Spain is also grappling with the threat of a Catalan secession, a crucial economic region of the country. And pressure is building on Mariano Rajoy to request a sovereign bailout, though he has said he will only do so if the country’s borrowing costs stay high over a long period of time.
Markets are selling off across Europe. Spain is down 3 percent, and yields on the Spanish 10-year surged this morning.
We will be updating this feature through the day.