Hundreds of thousands of Spaniards from all walks of life are to due to gather in the capital Madrid in a mass march against government austerity measures.
Prime Minister Mariano Rajoy continues to deny that his country will request a full- blown bailout as he prepares a further round of budget cuts.
Ignacio Fernandez Toxo is the leader of the CCOO trade union:
“If there is a massive response to our call to march from the Spanish people, which is what I hope, we will demand a referendum on these austerity measures and cuts. That way we can avoid being ruled by the markets.”
Madrid is under real pressure to help its faltering regions and avoid civil disorder. Further falls in house prices are adding to the insecurity.
Neighbours Portugal are in similar straits and anti-austerity protests have taken place in Porto and more are due in the capital Lisbon and 25 towns and cities across the country over the weekend.
Opposition Socialists are threatening to end the cross-party agreement on the EU/IMF loan unless the government scraps the recently announced across the board tax hikes.