Thursday, January 29, 2009

Crowds in France protest handling of the economic crisis; rail and air services were disrupted.

Hundreds of thousands of angry and fearful French workers mounted nationwide strikes and protests Thursday to demand President Nicolas Sarkozy do far more to fight the economic crisis." (Associated Press 1/29/09)

A million on strike as France feels pinch Angelique Chrisafis

(The Guardian 1/30/09)

Sarkozy Faces His Biggest Protest Yet on French Economic Plan
(Helene Fouquet,, 1/29/09)
"The Paris march ended with violence at the Garnier opera square. Riot police fired tear gas as protesters burned trash bins. CGT said 300,000 walked in the capital city and authorities reported 65,000 demonstrators. "

The discontent is spreading around the globe.

A look at economic developments around the world
(Associated Press 1/29/09)

Here is the latest update about what's happening in Spain:

UPDATE 1: Spanish unions call for wave of protests (Andrew Hay, Reuters, 1/29/09)

"Spain has gone from creating more than a third of new jobs in the European Union to destroying more than 40,000 a week in past months -- more than France, Britain and Italy put together -- as the collapse of its housing boom coincides with the global crisis."

Spain Bonds Signal More Pain; Yields Fail to Lure Axa (Update 2)
(Anchalee Worrachate and Esteban Duarte, 1/29/09)
"S&P cut Spain’s credit ranking one step to AA+ on Jan. 19, citing concern the budget deficit will balloon to 6.6 percent of gross domestic product this year, more than twice the European Union’s ceiling. The ratings company lowered Greece one level to A- five days earlier and Portugal to A+ on Jan. 21. "

I wonder what will erupt next week!

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