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Andres Kudacki / AP
A demonstrator bleeds as she is detained by the riot police during a coal miners's march to the Minister of Industry building in Madrid, on July 11. Coal miners angered by huge cuts in subsidies converged on Madrid for protest rallies after walking nearly three weeks under the blazing sun from the pits where they eke out a living.
Andrea Comas / Reuters
Miners and supporters march through the centre of Madrid, in protest against government austerity measures, July 11. Police fired rubber bullets at protesting miners on Wednesday, injuring several people, during a demonstration against slashes in coal subsidies aimed at trimming the budget deficit of the euro zone's fourth largest economy.
msnbc.com staff and news services -- MADRID -- Spain announced a 65 billion euro ($79.85 billion) austerity package that includes tax hikes and spending cuts on Wednesday, a day after it won approval from its euro partners for a huge bailout of the country's stricken banks.
Prime Minister Mariano Rajoy told parliament the country's future was at stake as Spain grapples with recession, a bloated deficit and investor wariness of its sovereign debt. He said the nearly $80 billion in savings will be achieved through 2015 by a hike in sales taxes and a series of spending cuts through 2015.
"We are living in a crucial moment which will determine our future and that of our families, that of our youth, of our welfare state," Rajoy said.
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Andres Kudacki / AP
Police riots run after the demonstrators during the coal miners's march to the Minister of Industry building in Madrid, on July 11. Coal miners angered by huge cuts in subsidies converged on Madrid for protest rallies after walking nearly three weeks under a blazing sun from the pits where they eke out a living.
Andres Kudacki / AP
Demonstrators clash with riot police during the coal miner's march to the Minister of Industry's building in Madrid, on July 11. The miners' march into the capital was the culmination for some of a nearly three-week trek from the regions where they eke out a living. Miners who walked 18 days from northern and eastern mining regions were received as heroes on Tuesday night as they entered the Puerta del Sol, one of the city's main plazas.
Andres Kudacki / AP
Demonstrators throw stones at the police riots during the coal miners's march to the Minister of Industry building in Madrid, on July 11. Coal miners angered by huge cuts in subsidies converged on Madrid Tuesday for protest rallies after walking nearly three weeks under a blazing sun from the pits where they eke out a living.
Andrea Comas / Reuters
Miners sit in front of thousands of supporters as they protest against government austerity measures in Madrid on July 11. Joined by supporters and trade unionists in the capital, the miners rallied noisily at the climax of a 44-day protest against a 60 percent cut in coal subsidies which they say will force mines to close and put many out of work.
Denis Doyle / Getty Images
Riot police apprehend protestors during a demonstration by Spanish coal miners on July 11, in Madrid, Spain. The miners had marched to Madrid in protest at industry subsidy cuts.