Clone of Spain protests 2012 10 7

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The permanent fund will bail out struggling economies and banks.

In a surprising decision, finance ministers said Spain — the country expected to receive the fund's first payment — does not need a bailout.

Anti-austerity protests are sweeping across Europe.

Thousands of people took to the streets of Madrid on Oct. 7 to protest the government's punishing austerity measures.

Denis Doyle

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