Spain & Portugal Budget Cut

A budget cut/tax hike was presented last week in Spain and Portugal that will cut spending over $40 billion euros ($51.7 billion in USD) stopping the salaries of workers and chop spending for unemployment benefits. Spain's unemployment rate is extremely high and the majority of the people under the age of 25 are jobless. A retired banker named Antonio Trinidade from the area said, "The young don't have any future, and the country is on edge of an abyss. I'm getting towards the end of my life, but these people in their 20's or 30's don't have jobs, or a future." Thousands upon thousands came together at the two capitals to protest the cut. Mid- week the protest got out of hand when the protesters and police collided.