‘Twas a busy weekend about the continent with the race against horsemeat, elections, and protesters have had enough of corruption and failed austerity programs.  

Spanish Police arrested 45 people in Madrid after a massive anti-austerity protest.  Although riot police kept a close eye on the demonstration, it was overwhelmingly peaceful with a smattering of trouble that came after most marchers went home.  Cops claimed they found firebombs in one person’s backpack.  Spain is suffering a collapse of property values and the highest unemployment rate in the Eurozone.

Tens of thousands of Bulgarians marched through Sofia against skyrocketing utility bills.  Similar protests (and the police reaction) last week toppled the conservative government, but the resignation of PM Boiko Borisov failed to quell the crowds.  The demonstrators say the problem is utility monopolies that have taken over Bulgaria’s electric market, and have radically hiked prices so that a people taking home an average $530 a month can’t afford to pay.

Conservative leader Nicos Anastasiades has won the presidential election in Cyprus by a comfortable margin over his Communist-backed rival.  Financial markets are hoping the 66-year old Anastasiades will ensure a speedy rescue of the cash-poor island by the European Union and International Monetary Fund.  Cyprus needs a $24 Billion bail out, which is equal to its entire economy.

Ministers from across the EU this week are expected to press for speedy action to get control of the horsemeat scandal.  Most are calling for processed beef and other meat products to come with clear country-of-origin labeling.  Ministers hope it will pave the way for similar labels on other food products and ingredients, but final action probably won’t happen until the end of the year.