Spanish Workers Protest Austerity Measures

 Spanish workers protested in the streets against government plans to impose new austerity measures that will cut their wages.

Thousands of people poured into the streets of Madrid Sunday night in a spontaneous protest sparked by calls on Internet social networking sites. A smaller group of firefighters, police and other government workers marched again on Monday against the $80 billion plan unveiled last week by Spanish Prime Minister Mariano Rajoy.

The workers stand to lose one of their 14 annual paychecks, one that is usually paid just before the Christmas holiday in December. Demonstrators chanted, "Hands up, it's a hold-up."One firefighter said the austerity measures would unfairly hit the one-quarter of the Spanish workforce¹ that is unemployed², as well as civil servants. "We are here to protect our rights and because we consider the type of cuts made are totally unfair at a national level in the way they affect the unemployed, the handicapped and us," the firefighter said.

Meanwhile, the International Monetary³ Fund said it is projecting that Spain's recession will continue into next year. Three months ago, the IMF predicted that the Spanish economy would expand slightly in 2013, but now says it will contract 1.5 percent this year and another six-tenths of one percent next year.

Spain is seeking up to $123 billion to rescue its ailing⁴ banks. In a policy switch, the European Central Bank has told the continent's finance ministers that major investors⁵ in the banks' bonds should bear some of the losses the banks have incurred⁶ on loans that have not been repaid. As it stands now, stockholders in the banks and those with smaller bond holdings will bear the brunt of the financial losses.

1 workforce   

n.劳动大军，劳动力

参考例句：

• A large part of the workforce is employed in agriculture.劳动人口中一大部分受雇于农业。
• A quarter of the local workforce is unemployed.本地劳动力中有四分之一失业。

2 unemployed   

adj.失业的，没有工作的；未动用的，闲置的

参考例句：

• There are now over four million unemployed workers in this country.这个国家现有四百万失业人员。
• The unemployed hunger for jobs.失业者渴望得到工作。

3 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

4 ailing   

v.生病

参考例句：

• They discussed the problems ailing the steel industry. 他们讨论了困扰钢铁工业的问题。
• She looked after her ailing father. 她照顾有病的父亲。

5 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

6 incurred   

[医]招致的，遭受的； incur的过去式

参考例句：

• She had incurred the wrath of her father by marrying without his consent 她未经父亲同意就结婚，使父亲震怒。
• We will reimburse any expenses incurred. 我们将付还所有相关费用。