Concerns over Spain’s attempts to restore market confidence in its economy resurfaced Thursday after a bond auction went poorly and its borrowing costs edged higher — even as the country’s parliament passed the latest round of harsh austerity measures designed to cut its bloated deficit.
The ruling conservative Popular Party used its majority in Parliament to push through the measures, which include a rise in sales taxes and a wage cut for civil servants.
As dusk fell, tens of thousands of government workers, trade union members and disgruntled Spaniards began marches and rallies in 80 cities throughout Spain. Large crowds gathered in Barcelona and Bilbao, while leading Spanish newspaper El Pais estimated on its website that more than 100,000 had attended the rally in Madrid.
The government also published details of the euro 100 billion ($122.9 billion) financial assistance agreement between Spain and the Eurogroup aimed at shoring up the country’s struggling banks.
Read more: Spain raises taxes, cuts wages | The Chronicle Herald
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