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Spain Unemployment Protests: Hundreds Of Demonstrators March In Madrid

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Protesters carry banners against financial cuts and unemployment as they demonstrate against the country's near 25 percent unemployment rate and stinging austerity measures introduced by the government, in Madrid, Spain, Saturday, July 21, 2012. (AP Photo/Andres Kudacki)
Protesters carry banners against financial cuts and unemployment as they demonstrate against the country's near 25 percent unemployment rate and stinging austerity measures introduced by the government, in Madrid, Spain, Saturday, July 21, 2012. (AP Photo/Andres Kudacki)

MADRID — Several hundred demonstrators have traveled to Madrid from many parts of Spain to protest the country's near 25 percent unemployment rate as well as the stinging austerity measures introduced by the government in a bid to avoid an international financial bailout.

Many of the protesters are unemployed and walked long distances to converge on the capital city.

They arrived a day after the final go-ahead for a bank bailout loan of up to (EURO)100 billion ($122.9 billion) failed to calm international markets. The nation's key borrowing rate rose to a euro era record of 7.2 percent in reaction to the country's continued recession and the debts of its regions.

Carrying banners saying "No cuts" and "United, that's enough" protesters headed to Madrid's Puerta del Sol square late Saturday.

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