Spanish Congress Awaits Citizen Protests

Riot police have ringed the Spanish parliament in Madrid ahead of a planned mass protest against austerity tagged “Occupy Congress”.

Metal barriers have been placed around the building to block access from every possible direction, correspondents say.

Indignants, as the protesters are known, say they are protesting at the “kidnapping” of democracy.

Spain’s new conservative government has been cutting pay and raising sales tax in an effort to reduce debt.

There is real concern in Europe that Spain may need an international bailout going beyond the 100bn euros (£80bn; $125bn) pledged by eurozone finance ministers in June to rescue its banks.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza