PROTESTERS CARRYING BANNERS and chanting slogans descended on the streets of Madrid today to demonstrate against recent austerity measures administered by the Spanish government.

Tens of thousands of Spaniards turned out for the union-organised rally after the Government took decisions to administer cuts in the hopes of avoiding a financial bailout.

Among the protesters were policemen, firemen, teachers and healthcare workers. They were heard shouting, “We are not paying for the crisis,” as they marched to Plaza Colon square.

About 1,000 buses ferried people to the capital for the rally, which was organised by the country’s leading trade unions, the CCOO and UGT. They say about 65,000 participated in today’s demonstration.

During the summer, the conservative Government, led by Prime Minister Mariano Rajoy announced the elimination of public workers’ annual Christmas bonus. This is the equivalent of about 7 per cent of annual pay. Spain has said it need to implement €102 billion in austerity measures by 2014 to reduce its public deficit from 8.9 per cent to 6.3 per cent.

Other changes include an increase in sales tax and cuts to jobless benefits. About one quarter of Spain’s adult population is unemployed.

Madrid has already accepted a €100 billion rescue loan for its banks but wants to avoid a bailout for the State.