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Anti-Austerity Calls Mount in Europe

Spanish protests, French candidates push back against focus on deficit reduction.

By Patrick Donahue, Bloomberg | Updated on April 30, 2012

A recession in Spain and forecasts of rising unemployment in the 17-nation euro area are amplifying criticism of the German-led austerity agenda in election campaigns this week in France and Greece.

With Spain’s largest unions leading marches involving thousands of protesters in 55 cities yesterday, Prime Minister Mariano Rajoy’s government battled to prevent Spain from becoming the next country to seek a bailout. In France, with the final round of presidential elections on May 6, Socialist frontrunner Francois Hollande pushed back against German Chancellor Angela Merkel’s focus on deficit reduction.

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