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Eurozone crisis live: Spanish general strike kicks off Eurozone crisis live: Spanish general strike kicks off
(40 minutes later)
3.12pm: The events in Spain are causing some concern in the financial markets today, according to Kathleen Brooks, research director at Forex.com. She warned today that the sight of protestors on the streets of several Spanish cities will prompts fears that the Spanish government might relax its fiscal plans. That might make Spain's sovereign debt a less attractive purchase.
Brooks added that investors are nervously awaiting tomorrow's budget, which will include tens of billions of euros of spending cuts. She writes:
The problem is that the Budget may uncover even more negativity as the health of the autonomous regions' finances is unveiled. There is every chance that this will require some sort of fiscal transfer from the central government to the regions, weighing on the overall position of Spain's finances.
2.20pm: Just received some new photos from Barcelona -- the scene of some of the most dramatic protests today (as Brendan Ryan flagged up at 1.47pm).2.20pm: Just received some new photos from Barcelona -- the scene of some of the most dramatic protests today (as Brendan Ryan flagged up at 1.47pm).
The photo on the right shows a man running from a burning rubbish bin in Barcelona today. There are also photos of a fire outside the Barcelona stock market (see the picture at the top of the article). It appears to have been made out of cardboard boxes, and there's no suggestion anyone was injured there.The photo on the right shows a man running from a burning rubbish bin in Barcelona today. There are also photos of a fire outside the Barcelona stock market (see the picture at the top of the article). It appears to have been made out of cardboard boxes, and there's no suggestion anyone was injured there.
1.47pm: Back to Spain, and reader Brendan Ryan has very kindly got in touch with a report from the ground. He says that backing for the strike varies across the country, with stronger support in Barcelona and Valencia, but much less in other cities such as Andalucia where life (according to his friends there) continues much as normal.1.47pm: Back to Spain, and reader Brendan Ryan has very kindly got in touch with a report from the ground. He says that backing for the strike varies across the country, with stronger support in Barcelona and Valencia, but much less in other cities such as Andalucia where life (according to his friends there) continues much as normal.
Industrial sites have been particularly hit by the general strike, and it also appears that around 30% of bank workers have not turned up for work. For Spain's tourism sector, though, life continues as normal -- except that tourists face a struggle because around 700 flights have been cancelled (see 9.49am for more details)Industrial sites have been particularly hit by the general strike, and it also appears that around 30% of bank workers have not turned up for work. For Spain's tourism sector, though, life continues as normal -- except that tourists face a struggle because around 700 flights have been cancelled (see 9.49am for more details)
Brendan, who has lived in Spain since 1993, argues that Spain's economic reform plans are "absolutely necessary". He writes:Brendan, who has lived in Spain since 1993, argues that Spain's economic reform plans are "absolutely necessary". He writes:
I have worked with politicians, journalists, factory workers, public prosecutors and police, among others, and most agree that changes are needed. Rajoy's People's Party knows that if they don't introduce these changes and cutbacks they will be imposed upon them from Brussels sooner or later.I have worked with politicians, journalists, factory workers, public prosecutors and police, among others, and most agree that changes are needed. Rajoy's People's Party knows that if they don't introduce these changes and cutbacks they will be imposed upon them from Brussels sooner or later.
A mentality change is required here. 'Adapt or die' would seem like an appropriate term to use. For example, the 'job for life' [Spain has four million civil servants] is a ridiculous concept and one that MUST change in order to increase the country's competitiveness and move on.A mentality change is required here. 'Adapt or die' would seem like an appropriate term to use. For example, the 'job for life' [Spain has four million civil servants] is a ridiculous concept and one that MUST change in order to increase the country's competitiveness and move on.
1.40pm: Greek unions are watching events in Spain closely today, says Helena Smith, our correspondent in Athens.1.40pm: Greek unions are watching events in Spain closely today, says Helena Smith, our correspondent in Athens.
Greek unionists from both the public and private sector have told her they see today's general strike as the beginning of a Pan-European revolt against the self-defeating policies of austerity

Helena writes:		Greek unionists from both the public and private sector have told her they see today's general strike as the beginning of a Pan-European revolt against the self-defeating policies of austerity

Helena writes:
Trade unionists representing civil servants in Greece, who have been hardest hit by repeated rounds of austerity over the past two years, said they were in "constant touch" with comrades in Spain and were monitoring the situation closely.Trade unionists representing civil servants in Greece, who have been hardest hit by repeated rounds of austerity over the past two years, said they were in "constant touch" with comrades in Spain and were monitoring the situation closely.
"Today's strike shows that it's not just us Greeks, there's a groundswell of aggression against policies whose ultimate aim is to turn Europe into a place of exploitation," said Ilias Iliopoulos general secretary of ADEDY which represents public sector employees. "Together we are determined to stop policies that are being enforced on us by a very small group of people.""Today's strike shows that it's not just us Greeks, there's a groundswell of aggression against policies whose ultimate aim is to turn Europe into a place of exploitation," said Ilias Iliopoulos general secretary of ADEDY which represents public sector employees. "Together we are determined to stop policies that are being enforced on us by a very small group of people."
Preparations for a major international conference in Athens of trade unionists from the EU and Mediterranean countries were underway, he told me.
"It will take place a few weeks after the [general elections] in May and everyone will be there, the Spanish, the English, the Belgians, the Germans. They all want to come to discuss ways of fighting these totally unjust, totally counter-productive policies. Greece is small and it can't do things alone but from the beginning we've been the laboratory for these measures and are seen as the country on the front-line. "		Preparations for a major international conference in Athens of trade unionists from the EU and Mediterranean countries were underway, he told me.
"It will take place a few weeks after the [general elections] in May and everyone will be there, the Spanish, the English, the Belgians, the Germans. They all want to come to discuss ways of fighting these totally unjust, totally counter-productive policies. Greece is small and it can't do things alone but from the beginning we've been the laboratory for these measures and are seen as the country on the front-line. "
There was also industrial action in Athens today, with at least 5,000 protestors, including doctors, nurses and administrative staff in hospitals, marching on the Greek parliament today in a demonstration denouncing cuts to the country's increasingly weakened public health system.There was also industrial action in Athens today, with at least 5,000 protestors, including doctors, nurses and administrative staff in hospitals, marching on the Greek parliament today in a demonstration denouncing cuts to the country's increasingly weakened public health system.
"Every day there is a protest in Athens," said Iliopoulos. "People are slipping deeper and deeper into poverty and at some point things will come to a head. June will be a very hot month when we are expecting the announcement of even more measures to cover the budget's €11.5bn fiscal hole.""Every day there is a protest in Athens," said Iliopoulos. "People are slipping deeper and deeper into poverty and at some point things will come to a head. June will be a very hot month when we are expecting the announcement of even more measures to cover the budget's €11.5bn fiscal hole."
1.24pm: Some disappointing news from Portugal -- the country's central bank has just warned that the Portuguese recession will be even deeper than previously thought.1.24pm: Some disappointing news from Portugal -- the country's central bank has just warned that the Portuguese recession will be even deeper than previously thought.
The Bank of Portugal now expects the economy to shrink by 3.4% this year, down from 3.1%. It also expects no growth in 2013, down from a previous forecast of 0.3%.The Bank of Portugal now expects the economy to shrink by 3.4% this year, down from 3.1%. It also expects no growth in 2013, down from a previous forecast of 0.3%.
What's that got to do with Spain? Well, it illustrates that weaker members of the eurozone face an extremely difficult road back to growth. Portugal, of course, has already accepted help from the International Monetary Fund -- and is implementing tough austerity plans. Its unions held their own general strike last week, but it did not lead to serious diusruption.What's that got to do with Spain? Well, it illustrates that weaker members of the eurozone face an extremely difficult road back to growth. Portugal, of course, has already accepted help from the International Monetary Fund -- and is implementing tough austerity plans. Its unions held their own general strike last week, but it did not lead to serious diusruption.
1.13pm: Spain's employment minister Fátima Báñez has insisted that the Spanish government will not bow to pressure from today's strike.1.13pm: Spain's employment minister Fátima Báñez has insisted that the Spanish government will not bow to pressure from today's strike.
Báñez told the Spanish parliament that "core parts" of the labour reforms will not be changed, despite the general strike, because the government is committed to tackling Spain's unemployment crisis. She added, though, that ministers were happy to hear ways that the measures could be improved.

For their part, unions say that turnout at today's general strike has been high.		Báñez told the Spanish parliament that "core parts" of the labour reforms will not be changed, despite the general strike, because the government is committed to tackling Spain's unemployment crisis. She added, though, that ministers were happy to hear ways that the measures could be improved.

For their part, unions say that turnout at today's general strike has been high.
1.04pm: Here's some video footage showing the disruption to transport in Spain today.1.04pm: Here's some video footage showing the disruption to transport in Spain today.
It shows how protestors tried to stop early morning buses, and includes a commuter who is concerned that workers' rights are being eroded by the Spanish government.It shows how protestors tried to stop early morning buses, and includes a commuter who is concerned that workers' rights are being eroded by the Spanish government.
12.44pm: Reuters's Brussels office has got its hands on the draft statement from tomorrow's meeting of eurozone finance ministers in Copenhagen.12.44pm: Reuters's Brussels office has got its hands on the draft statement from tomorrow's meeting of eurozone finance ministers in Copenhagen.
It shows that the ministers plan to announce that the capacity of Europe's debt crisis firewall will be set at €700bn, up from €500bn at present, with the possibility of a further expansion to €940bn in "exceptional circumstances".It shows that the ministers plan to announce that the capacity of Europe's debt crisis firewall will be set at €700bn, up from €500bn at present, with the possibility of a further expansion to €940bn in "exceptional circumstances".
That suggests that Germany has, as suspected, dropped her previous opposition to enlarging the fund above €500bn. But even the largest figure falls short of the €1trn which the OECD called for this week.That suggests that Germany has, as suspected, dropped her previous opposition to enlarging the fund above €500bn. But even the largest figure falls short of the €1trn which the OECD called for this week.
It's als not clear what counts as "exceptional circumstances" in the eurozone -- but in practice, the expansion is meant to address the danger of Spain or Italy losing the support of the markets.It's als not clear what counts as "exceptional circumstances" in the eurozone -- but in practice, the expansion is meant to address the danger of Spain or Italy losing the support of the markets.
12.31pm: In the financial markets, Spanish government bonds have fallen in value today. That's pushed up the yield (effectively the interest rate) on its 10-year bonds to 5.45%.12.31pm: In the financial markets, Spanish government bonds have fallen in value today. That's pushed up the yield (effectively the interest rate) on its 10-year bonds to 5.45%.
That reflects fears that Spain will, despite its best efforts, be forced to take an aid package from the international community. Yesterday, analysts at Citigroup predicted that the cost of recapitalising its banks (which face huge losses on property loans) will force Spain into accepting a programme of financial help tagged to further economic reforms.That reflects fears that Spain will, despite its best efforts, be forced to take an aid package from the international community. Yesterday, analysts at Citigroup predicted that the cost of recapitalising its banks (which face huge losses on property loans) will force Spain into accepting a programme of financial help tagged to further economic reforms.
Stock markets are also lower:Stock markets are also lower:
Spain's IBEX: down 0.8% at 7915
Britain's FTSE 100: down 0.7% at 5768
German DAX: down 1.02% at 6927
French CAC: down 0.9% at 3398		Spain's IBEX: down 0.8% at 7915
Britain's FTSE 100: down 0.7% at 5768
German DAX: down 1.02% at 6927
French CAC: down 0.9% at 3398
The euro has also fallen, down around 0.3 of a cent against the US dollar to $1.3288.The euro has also fallen, down around 0.3 of a cent against the US dollar to $1.3288.
12.10pm: Another photo, this time from Madrid, showing demonstrators on the Gran Via avenue.12.10pm: Another photo, this time from Madrid, showing demonstrators on the Gran Via avenue.
There are reports of heavy traffic jams in parts of Madrid (see 8.21am for details of how a main road into the city was blocked earlier).There are reports of heavy traffic jams in parts of Madrid (see 8.21am for details of how a main road into the city was blocked earlier).
With public transport operating a skeleton service, the long queues may also indicate that many workers have attempted to get to work in their own cars.With public transport operating a skeleton service, the long queues may also indicate that many workers have attempted to get to work in their own cars.
But the protests do appear generally calm. Most of the arrests and injuries (such as the cut suffered by this protestor) occured at early morning protests, where demonstrators appear to have tried to stop lorries reaching wholesale plants, or buses leaving for work.But the protests do appear generally calm. Most of the arrests and injuries (such as the cut suffered by this protestor) occured at early morning protests, where demonstrators appear to have tried to stop lorries reaching wholesale plants, or buses leaving for work.
11.48am: In Barcelona, around two hundred university students marched down the Diagonal Avenue - one of the city's main roads - this morning, during the general strike.11.48am: In Barcelona, around two hundred university students marched down the Diagonal Avenue - one of the city's main roads - this morning, during the general strike.
The protest, which appears calm, would have added to transport problems in Barcelona, where commuter train services had also been hit by today's action.The protest, which appears calm, would have added to transport problems in Barcelona, where commuter train services had also been hit by today's action.
11.31am: Some Spanish Twitter users have found black humour in today's general strike, using the #huelga or #enhuelga hashtags.11.31am: Some Spanish Twitter users have found black humour in today's general strike, using the #huelga or #enhuelga hashtags.
One widely retweeted message from @jorgenavasalejo proclaims "Confirmed: 100 percent paralysis of Castellón and Ciudad Real airports, with the latter opting for permanent strike".One widely retweeted message from @jorgenavasalejo proclaims "Confirmed: 100 percent paralysis of Castellón and Ciudad Real airports, with the latter opting for permanent strike".
Confirmado: 100% paralizados los aeropuertos de Castellón y Ciudad Real, que parece que han optado por una huelga indefinida #enhuelgaConfirmado: 100% paralizados los aeropuertos de Castellón y Ciudad Real, que parece que han optado por una huelga indefinida #enhuelga
— Jorge Navas Alejo (@jorgenavasalejo) March 28, 2012— Jorge Navas Alejo (@jorgenavasalejo) March 28, 2012
The pun is that both new unused airports are white elephants – and standing jokes – left over from Spain's building boom. Neither one is currently receiving commercial flights of any kind and they remain as symbols of all that went wrong before Spain's construction bubble burst. In fact Twitter is today alive with jokes about Castellón airport, with @magdabermellon claiming the rabbits are refusing to unblock the runways.The pun is that both new unused airports are white elephants – and standing jokes – left over from Spain's building boom. Neither one is currently receiving commercial flights of any kind and they remain as symbols of all that went wrong before Spain's construction bubble burst. In fact Twitter is today alive with jokes about Castellón airport, with @magdabermellon claiming the rabbits are refusing to unblock the runways.
Spain's national police force @policia, meanwhile, has proclaimed on Twitter that: "Thousands of agents are today protecting the right to go on strike (#huelga)... or not to."Spain's national police force @policia, meanwhile, has proclaimed on Twitter that: "Thousands of agents are today protecting the right to go on strike (#huelga)... or not to."
11.09am: Our Madrid correspondent Giles Tremlett reports that Spanish police seem upset about a suggestion by the governing People's party (PP) of prime minister Mariano Rajoy that social networks should be used to denounce illegal picketing or violence in today's general strike.11.09am: Our Madrid correspondent Giles Tremlett reports that Spanish police seem upset about a suggestion by the governing People's party (PP) of prime minister Mariano Rajoy that social networks should be used to denounce illegal picketing or violence in today's general strike.
He writes:He writes:
Esperanza Aguirre, the PP head of the regional government of Madrid, had called on people to "put up on social networks any photos or videos" of "any act of violence or of coercion by pickets". She has repeated the idea on her own Twitter feed.Esperanza Aguirre, the PP head of the regional government of Madrid, had called on people to "put up on social networks any photos or videos" of "any act of violence or of coercion by pickets". She has repeated the idea on her own Twitter feed.
But Spain's National Police force has just put out its own tweet, asking people not to use Twitter for official complaints.But Spain's National Police force has just put out its own tweet, asking people not to use Twitter for official complaints.
"Please, for warnings, incidents, queries or requests for help about #huelga (strike) do not use Twitter. Dial 091. The coordination is better there," it says."Please, for warnings, incidents, queries or requests for help about #huelga (strike) do not use Twitter. Dial 091. The coordination is better there," it says.
10.57am: Today's industrial action comes two months, almost to the day, since Spanish PM Mariano Rajoy was caught telling fellow leaders that his labour reform plan "is going to cost me a general strike."10.57am: Today's industrial action comes two months, almost to the day, since Spanish PM Mariano Rajoy was caught telling fellow leaders that his labour reform plan "is going to cost me a general strike."
That disclosure, made at an EU summit, was plastered over the Spanish media, along with Rajoy's warning that "the most difficult part comes now".That disclosure, made at an EU summit, was plastered over the Spanish media, along with Rajoy's warning that "the most difficult part comes now".
10.35am: Demonstrators have been enthusiastically plastering stickers and posters around Spanish cities.10.35am: Demonstrators have been enthusiastically plastering stickers and posters around Spanish cities.
This sticker was pasted to a window at Atocha railway station in Madrid. It reads "No to labor reform and abusive lay-off, general strike".This sticker was pasted to a window at Atocha railway station in Madrid. It reads "No to labor reform and abusive lay-off, general strike".
As we explained earlier, Mariano Rajoy's government has brought in legislation that makes it easier for firms to lay off workers, cut their wages, or change their working conditions, if they can claim they need to boost their productivity.As we explained earlier, Mariano Rajoy's government has brought in legislation that makes it easier for firms to lay off workers, cut their wages, or change their working conditions, if they can claim they need to boost their productivity.
10.20am: The Organisation for Economic Co-operation and Development has just released its latest economic forecasts -- and there's bad news for the eurozone, and the UK.10.20am: The Organisation for Economic Co-operation and Development has just released its latest economic forecasts -- and there's bad news for the eurozone, and the UK.
According to the OECD, Britain is now in recession. It expects that GDP in the current quarter has fallen by 0.1%, adding to the 0.3% decline seen in the final three months of 2011.According to the OECD, Britain is now in recession. It expects that GDP in the current quarter has fallen by 0.1%, adding to the 0.3% decline seen in the final three months of 2011.
On the eurozone, the OECD said that it is falling behind the US, which is expected to grow much faster. It expects the eurozone's three largest economies (German, France and Italy) to shrink by 0.1% in the first quarter of 2012, amd grow by slightly more than 0.2% in the second quarter.On the eurozone, the OECD said that it is falling behind the US, which is expected to grow much faster. It expects the eurozone's three largest economies (German, France and Italy) to shrink by 0.1% in the first quarter of 2012, amd grow by slightly more than 0.2% in the second quarter.
The US is expected to post growth of 0.725% in Q1 2012, followed by 0.7% in Q2.The US is expected to post growth of 0.725% in Q1 2012, followed by 0.7% in Q2.
10.01am: A quick reminder of Spain's economic position.10.01am: A quick reminder of Spain's economic position.
Spain ended 2011 with a shrinking economy. GDP fell by 0.3% in the final three months of the year, and it is forecast to drop by another 1.7% during 2012.Spain ended 2011 with a shrinking economy. GDP fell by 0.3% in the final three months of the year, and it is forecast to drop by another 1.7% during 2012.
The country has one of the weakest employment markets in the eurozone. Unemployment broke through the 5 million mark in January, putting the jobless rate at almost 23%. More than half of all young people are out of work.The country has one of the weakest employment markets in the eurozone. Unemployment broke through the 5 million mark in January, putting the jobless rate at almost 23%. More than half of all young people are out of work.
Spain posted a deficit of 8.5% of GDP last year, well above official target. It is now aiming for a deficit of 5.3% of GDP this year. Friday's budget will show how prime minister Rajoy will attempt this.Spain posted a deficit of 8.5% of GDP last year, well above official target. It is now aiming for a deficit of 5.3% of GDP this year. Friday's budget will show how prime minister Rajoy will attempt this.
9.49am: Spain's transport network has been badly hit by today's strike.9.49am: Spain's transport network has been badly hit by today's strike.
Spanish airline Iberia (which merged with British Airways in 2010), says it has cancelled more than 400 flights. Another 44 Ryanair flights have been grounded, while easyJet cancelled 28 flights.Spanish airline Iberia (which merged with British Airways in 2010), says it has cancelled more than 400 flights. Another 44 Ryanair flights have been grounded, while easyJet cancelled 28 flights.
Ahead of today's action, transport employees had agreed to offer a minimum level of service. That meant that around 25% of buses and a third of train services were expected to operate.Ahead of today's action, transport employees had agreed to offer a minimum level of service. That meant that around 25% of buses and a third of train services were expected to operate.
9.37am: The two main unions, Comisiones Obreras and UGT, have announced that the general strike had "practically paralysed" factories during the night shift. They also claimed that 85% of workers in the food sector were also taking part (but, as we reported at 8.36am, we won't know the full story for some time).9.37am: The two main unions, Comisiones Obreras and UGT, have announced that the general strike had "practically paralysed" factories during the night shift. They also claimed that 85% of workers in the food sector were also taking part (but, as we reported at 8.36am, we won't know the full story for some time).
9.20am: And here's a less peaceful photo, showing a man bleeding while taking part in this morning's protests in Madrid.9.20am: And here's a less peaceful photo, showing a man bleeding while taking part in this morning's protests in Madrid.
According to the photographer who took the photo, the man had been hit in the face by police.According to the photographer who took the photo, the man had been hit in the face by police.
9.11am: Back to Spain, and there have been peaceful protests this morning outside the Gregorio Maranon Hospital in Madrid.9.11am: Back to Spain, and there have been peaceful protests this morning outside the Gregorio Maranon Hospital in Madrid.
Sony Kapoor of the Redefine think tank argued that the rarity of today's general strike (the first since September 2010) shows that the 'social fabric' of Spain has held up well since the financial crisis began.Sony Kapoor of the Redefine think tank argued that the rarity of today's general strike (the first since September 2010) shows that the 'social fabric' of Spain has held up well since the financial crisis began.
The rare #Spanish general strike today only goes 2 show how well the social fabric has held fast so far. Will it last as unemployment rises?The rare #Spanish general strike today only goes 2 show how well the social fabric has held fast so far. Will it last as unemployment rises?
— Sony Kapoor (@SonyKapoor) March 29, 2012— Sony Kapoor (@SonyKapoor) March 29, 2012
9.00am: Looking away from Spain briefly, Geman unemployment has fallen again, as the eurozone's largest economy continues to shrug off the debt crisis.9.00am: Looking away from Spain briefly, Geman unemployment has fallen again, as the eurozone's largest economy continues to shrug off the debt crisis.
On a seasonally adjusted basis, the number of people out of work in Germany fell by 18,000 in March to 2.841m. That takes the country's unemployment rate down to 6.7%, a new record low.On a seasonally adjusted basis, the number of people out of work in Germany fell by 18,000 in March to 2.841m. That takes the country's unemployment rate down to 6.7%, a new record low.
8.36am: Giles Tremlett, our correspondent in Madrid, tells me that it is impossible to say at this stage how 'successful' the Spanish general strike is. But two key indicators suggest there is more support than at a similar event 18 months ago.8.36am: Giles Tremlett, our correspondent in Madrid, tells me that it is impossible to say at this stage how 'successful' the Spanish general strike is. But two key indicators suggest there is more support than at a similar event 18 months ago.
Giles writes:Giles writes:

The first is that electricity consumption is down by more than 20% – proof that things are slowing down around the country.
The first is that electricity consumption is down by more than 20% – proof that things are slowing down around the country.
The other is that unions say more people have stopped work this morning than in September 2010, when the socialist administration of José Luis Rodríguez Zapatero had to cope with a similar strike.The other is that unions say more people have stopped work this morning than in September 2010, when the socialist administration of José Luis Rodríguez Zapatero had to cope with a similar strike.
Zapatero himself considered that strike a crucial moment in the dramatic fall in popular support for his socialists, who were ousted at a general election a year later.Zapatero himself considered that strike a crucial moment in the dramatic fall in popular support for his socialists, who were ousted at a general election a year later.
Given that regional elections in southern Andalucia at the weekend saw a fall in votes for current prime minister Mariano Rajoy's conservative People's party (PP), it is safe to say that we have reached a turning point in support for the government as it celebrates 100 days in power.Given that regional elections in southern Andalucia at the weekend saw a fall in votes for current prime minister Mariano Rajoy's conservative People's party (PP), it is safe to say that we have reached a turning point in support for the government as it celebrates 100 days in power.
Tomorrow's budget, expected to be one of the fiercest seen in austerity Europe, will mark the end of his toughest week in power.Tomorrow's budget, expected to be one of the fiercest seen in austerity Europe, will mark the end of his toughest week in power.
8.31am: El Pais also reports that Esperanza Aguirre, president of Madrid Spain minister for education and culture, has denounced attempts on social networks to create public disorder today [a comment which reminds us of last summer's riots in the UK]8.31am: El Pais also reports that Esperanza Aguirre, president of Madrid Spain minister for education and culture, has denounced attempts on social networks to create public disorder today [a comment which reminds us of last summer's riots in the UK]
Apologies, we appear to have misread Aguirre's comments - please see 11.09am for the full story.Apologies, we appear to have misread Aguirre's comments - please see 11.09am for the full story.
8.21am: According to El Pais, there have been 58 arrests so far in Spain, with seven policeman injured (my colleague James Gard reports).8.21am: According to El Pais, there have been 58 arrests so far in Spain, with seven policeman injured (my colleague James Gard reports).
Electricity demand is reportedly down a quarter on a normal working day. Nissan and Seat car factories in Catalonia are locked down. Student protestors have blocked one of the main roads into Madrid, the A6, causing a big traffic jam (click on the link below to see).Electricity demand is reportedly down a quarter on a normal working day. Nissan and Seat car factories in Catalonia are locked down. Student protestors have blocked one of the main roads into Madrid, the A6, causing a big traffic jam (click on the link below to see).
Así está la entrada a Madrid por la A-6. Los estudiantes han bloqueado el acceso a Moncloa. #yohagohuelga twitpic.com/92pwgeAsí está la entrada a Madrid por la A-6. Los estudiantes han bloqueado el acceso a Moncloa. #yohagohuelga twitpic.com/92pwge
— Comisiones Obreras (@ccoo) March 29, 2012— Comisiones Obreras (@ccoo) March 29, 2012
8.15am: The Spanish general strike comes just a day before prime minister Mariano Rajoy announces a new austerity budget.8.15am: The Spanish general strike comes just a day before prime minister Mariano Rajoy announces a new austerity budget.
As my colleague Giles Tremlett reported a few days ago, Rajoy must announce up to up to €40bn (£33.45bn) of spending cuts and taxes, three months after his victory in a general election last November.As my colleague Giles Tremlett reported a few days ago, Rajoy must announce up to up to €40bn (£33.45bn) of spending cuts and taxes, three months after his victory in a general election last November.
Rajoy has also angered labour groups by introducing new legislation that makes it easier for companies to lay people off, cut wages and modify other employment conditions. This has led unions to predict enthusiastic support for today's action.Rajoy has also angered labour groups by introducing new legislation that makes it easier for companies to lay people off, cut wages and modify other employment conditions. This has led unions to predict enthusiastic support for today's action.
Ignacio Fernandez Toxo, head of the CCOO union, declared:Ignacio Fernandez Toxo, head of the CCOO union, declared:
The people will say whether they are resigned to accepting the reforms.The people will say whether they are resigned to accepting the reforms.
Finance minister Cristobal Montoro, though, insists the Spanish government will not be forced into changing its plans. Montoro said:Finance minister Cristobal Montoro, though, insists the Spanish government will not be forced into changing its plans. Montoro said:
The question here is not whether the strike is honoured by many or few but rather whether we get out of the crisis.The question here is not whether the strike is honoured by many or few but rather whether we get out of the crisis.
More details here.More details here.
7.57am: And in Valencia (as in Malaga, see 7.56am) strikers also blocked the entrance to the main wholesale market (called Mercavalencia).7.57am: And in Valencia (as in Malaga, see 7.56am) strikers also blocked the entrance to the main wholesale market (called Mercavalencia).
According to local reports, hundreds of members of the UGC, CCOO and CGT labor unions, blocked the entrance, and managed to prevent trucks entering the site.According to local reports, hundreds of members of the UGC, CCOO and CGT labor unions, blocked the entrance, and managed to prevent trucks entering the site.
7.56am: In Malaga, union members picketed outside the entrance to the city's main food warehouse, called "MercaMalaga".7.56am: In Malaga, union members picketed outside the entrance to the city's main food warehouse, called "MercaMalaga".
7.48am: Here's another picture from outside Madrid's urban bus depot:7.48am: Here's another picture from outside Madrid's urban bus depot:
It was taken before dawn today, and shows a demonstrator shouting a slogan while a policeman stands by.It was taken before dawn today, and shows a demonstrator shouting a slogan while a policeman stands by.
7.46am: In Madrid, several people have been detained by police in riot gear, after demonstrators tried to stop an urban bus leaving for work.7.46am: In Madrid, several people have been detained by police in riot gear, after demonstrators tried to stop an urban bus leaving for work.
Here's a picture from the scene.Here's a picture from the scene.
7.41am: Here's today's agenda:7.41am: Here's today's agenda:
• General strike in Spain: all day
• Informal talks in Copenhagen ahead of Friday's EU finance ministers meeting: all day
• German unemployment data for March: 8.55am BST / 9.55am CET
• UK mortgage approvals/consumer credit data for February: 9.30am GMT
• Eurozone consumer/industrial/business/services confidence: 10am BST / 11am CET
• US GDP for Q4 2011: 1.30pm BST / 8.30am EST		• General strike in Spain: all day
• Informal talks in Copenhagen ahead of Friday's EU finance ministers meeting: all day
• German unemployment data for March: 8.55am BST / 9.55am CET
• UK mortgage approvals/consumer credit data for February: 9.30am GMT
• Eurozone consumer/industrial/business/services confidence: 10am BST / 11am CET
• US GDP for Q4 2011: 1.30pm BST / 8.30am EST
7.35am: Good morning, and welcome to another day of rolling coverage of the eurozone debt crisis.7.35am: Good morning, and welcome to another day of rolling coverage of the eurozone debt crisis.
Today the focus is on Spain, where a general strike has begun. Unions have called the industrial action in protest against the economic reforms, and austerity measures, being introduced by its new centre-right government.Today the focus is on Spain, where a general strike has begun. Unions have called the industrial action in protest against the economic reforms, and austerity measures, being introduced by its new centre-right government.
The general strike is seen as a big test for prime minister Mariano Rajoy. Three months after sweeping to power, does he still command the support of the public?The general strike is seen as a big test for prime minister Mariano Rajoy. Three months after sweeping to power, does he still command the support of the public?
There have already been clashes between demonstrators and police in Madrid and Malaga. There's likely to be disruption throughout the day, with marches taking place this evening.There have already been clashes between demonstrators and police in Madrid and Malaga. There's likely to be disruption throughout the day, with marches taking place this evening.
The strike comes as EU finance ministers and officials head to Copenhagen for the start of crunch talks over the eurozone crisis, and the issue of the European firewall.The strike comes as EU finance ministers and officials head to Copenhagen for the start of crunch talks over the eurozone crisis, and the issue of the European firewall.
On the economic front, we have German unemployment and eurozone consumer confidence coming up, plus a new estimate for US GDP for the final three months of 2011. Busy day ahead....On the economic front, we have German unemployment and eurozone consumer confidence coming up, plus a new estimate for US GDP for the final three months of 2011. Busy day ahead....