Over 100,000 Dubliners protest austerity plan

Thousands took to the streets of the Irish capital Dublin on Saturday to protest wide spending cuts and tax increases that would come as part of a $114 billion rescue package arranged by the IMF and the EU.

­It is the first major rally against austerity measures, which would see Ireland implement a four-year, $20-billion program of slashing spending in the welfare sector and introducing sharp reductions in public sector jobs.

The protestors called for the resignation of Prime Minister Brian Cowen, whose government is expected to present the recovery package to Parliament on December 7. 

Financial troubles have been spreading around the euro zone, with fears that Portugal and Spain may be next in line for a bailout.