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Protests continue in Spain over budget cuts

A masked protestor holds a sign which reads in German "Merkel, We're not going to pay" during the demonstration near the Spanish parliament to protest against spending cuts and the government of Mariano Rajoy on September 25, 2012 in Madrid, Spain.

Spanish Prime Minister Mariano Rajoy receives German Chancellor Angela Merkel at Moncloa Palace on September 6, 2012 in Madrid, Spain.

More protests are expected in Spain today after some big demonstrations last night. There's outrage over a new round of budget cuts as Spain tries to avoid becoming the next Greece.

"Last night's demonstration was definitely different," says the BBC's Tom Burridge, reporting from Madrid.

The protestors were trying to surround parliament, in a protest against the political system as a whole in the country. Social media sites tipped police off that the protest would happen, and they blocked off roads leading to parliament before trying to break the crowd up.

Meanwhile, the Spanish government is still yet to ask for a bailout from its European partners.

"The thinking of analysts," says Burridge, "is that the longer Spain delays this decision, then actually the markets might start to lose confidence. And Spain might then be forced to ask for that second bailout."

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.

Spanish Prime Minister Mariano Rajoy receives German Chancellor Angela Merkel at Moncloa Palace on September 6, 2012 in Madrid, Spain.

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