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Backlash over Spain bailout call

Sunday, June 10, 2012 - 01:20

June 10 - Spain's Indignado movement and their supporters protest over Spain's decision to ask for a bailout for its banks. Paul Chapman reports.

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Protesters were on the streets of Madrid within hours of Spain's announcement that it would ask for international help for its banks. Members of the Indignado movement and their supporters clearly had their pots and pans at the ready. They say suffering citizens should benefit from international aid, not financial institutions. SOUNDBITE: MARI PAZ, INDIGNADO MOVEMENT SUPPORTER, SAYING (Spanish): "We're saying this is a scam because the aid shouldn't be for the banks, it should be for the citizens who are the most affected by this crisis. Not the bankers. I don't think they're doing as bad as the ordinary people. The crisis originated in the markets, not from the citizens." SOUNDBITE: TOM KUCHARZ, INDIGNADO MOVEMENT SUPPORTER, SAYING (SPANISH): "The public funds are being given to the financial elite. That's why we're talking here about huge fraud, a robbery. What they have to do is expropriate the banks and reallocate the funds among the poor." Euro zone finance ministers agreed on Saturday to lend Spain up to the equivalent of 125 billion dollars. Spanish authorities are due to present a formal request for the cash shortly. Paul Chapman, Reuters

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Backlash over Spain bailout call

Sunday, June 10, 2012 - 01:20