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Spanish miners protest by lamplight as austerity bites

Cesar Manso / AFP - Getty Images

Coal miners demonstrate with their lamps lit through the streets of the city of Leon, northern Spain, on June 12, 2012.

Spanish coal miners are staging a nationwide strike action organized by unions opposed to subsidy reductions from 300 million euros to 110 million euros, Agence France Presse reports.

Read the latest on the euro zone debt crisis and see more pictures of Spanish protests on PhotoBlog.

Greece's upcoming elections could lead to the country's exit from the eurozone. Spain's banks received a $100 billion euro bailout. What impact could these events have on the U.S. presidential elections? Harvard University's Niall Ferguson joins us to discuss.