Workers across Europe protest austerity measures

Workers in many parts of Europe yesterday marched in the streets of national capitals to deliver a clear message to Europe's leaders that they could not be taken for granted any more as they have had to bear the brunt of austerity measures while bondholders have been shielded from losses.

John Monks, head of the European Trade Union Confederation said that there was a great danger that workers would be paying the price of the reckless speculation that took place in the financial markets.

He said that governments would have to reschedule the debts so that there is not a huge burden that would cause Europe to plunge into recession. According to analysts, his words reflect the growing bitterness among ordinary people in the context of the dismal economic conditions.

The car industry in Spain almost was almost completely paralysed apart from the Mercedes plant in Vitoria and transport blockages caused by severe disruption. According to Ignacio Fernandez Toxo, head of the country's CCOO trade union, premier Jose Luis Zapatero was committing "political suicide" by carrying out harsh cuts even as unemployment hovered at 20 per cent, or 41 per cent for youths.

Austerity fatigue is becoming increasingly evident a large arc of Eastern and Southern Europe, giving rise to concerns that electorates may start to rebel.

The Fidesz government in Hungary in a move to push for ''economic nationalism'' has sent the EU and the International Monetary Fund packing and in Romania, even the police joined demonstrations last week, hurling their kit at the presidential palace in a protest gesture against public sector wage cuts of 25 per cent.