On Wednesday, stock markets around the world tumbled in response to large anti-austerity protests in Greece and Spain. Tens of thousands of protesters clashed with riot police ahead of new austerity measures designed to shore up the two countries' finances, raising concerns that the Greek and Spanish governments may be too weak to see the reforms through. The latest burst of instability comes shortly after many observers concluded that the European Union had finally turned the corner on its years-long debt crisis, which has threatened the existence of the euro currency.
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