Protests Erupt in Athens, Madrid

Protests broke out and led to clashes with police in Athens and Madrid on Wednesday. 70,000 people marched on Parliament in Athens and the demonstration deteriorated when anarchists began throwing gasoline bombs and pieces of concrete at riot police. Police in turn fired tear gas at demonstrators. Protesters have been demonstrating against planned spending cuts of $15 billion, which are required if Greece is to receive its next round of bailout funds, without which the country could go bankrupt in weeks. Riots also broke out in Madrid on Wednesday, where Spain's prime minister Mariano Rajoy is considering requesting a European bailout and has already proposed harshed budgetary measures for 2013.