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Thousands protest in Spain and Portugal over austerity

4:01 PM, Sep 29, 2012   |    comments
Demonstrators hold a mock guillotine with a banner reading "Thieves' cutter" during a protest against austerity measures announced by the Spanish government in Madrid, Spain
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MADRID (AP) - Tens of thousands of Spaniards and Portuguese have rallied in the streets of their countries' capitals today to protest the pain of austerity cuts.

In Madrid, demonstrators approached parliament for the third time this week to vent their anger against tax hikes, government spending cuts and a 25 percent unemployment rate that is the highest among the 17 nations that use the euro currency.

In Lisbon, protesters decried the budget cuts Portugal has agreed to in return for a more than $100 million bailout.

Today's protests have been peaceful. Earlier this week, protests near Spain's parliament turned violent when demonstrators clashed with riot police.

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