It could shatter Spain's two-party system in what would be the country's largest political shake up since 1978

Polls show Podemos, which was formed last year, is in the lead to win Spain's general election later this year

Supporters from across Spain gathered as they hoped to emulate the success of Greece's radical Syriza party


Hundreds of thousands of people marched through Madrid today in a show of strength by a fledgling radical leftist party, as it becomes the latest European political organisation to gain widespread support for its anti-austerity stance.

Podemos ('We Can') supporters from across Spain converged around the Cibeles fountain today before packing the avenue leading to Puerta del Sol square in what was the party's largest rally to date, as it hopes to emulate the success of Greece's Syriza party in the Spanish general election later this year.

Podemos aims to shatter the country's predominantly two-party system and the 'March for Change' gathered crowds in the same place where sit-in protests against political and financial corruption laid the party's foundations in 2011.

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Podemos supporters gather at Puerta del Sol square today to 'March for Change' and protest against political and financial corruption

A man wearing the colours of the fledgling radical party Podemos shakes his fist during the party's largest show of strength to date

The party's rise is largely due to the charisma of its pony-tailed leader Pablo Iglesias, a 36-year-old political science professor. Pictured are supporters rallying in Madrid

State broadcaster TVE said that hundreds of thousands were at the march, but no official attendance figures were provided.

The party's rise is greatly due to the charisma of its pony-tailed leader, Pablo Iglesias, a 36-year-old political science professor.

Hailing from the Madrid working class neighborhood of Vallecas, Iglesias prefers jeans and rolled up shirt sleeves to a suit and tie and champions slogans such as Spain is 'run by the butlers of the rich' and that the economy must serve the people.

'We want change,' Iglesias told the crowd. 'This is the year for change and we're going to win the elections.'

Speaking at a meeting in Barcelona, Prime Minister Mariano Rajoy said he didn't accept the bleak picture of Spain that Podemos propagated.

'They're a sad bunch, who go around saying how badly things are going,' he said, giving them no chance of winning the elections. 'They're not going to do it.'

Senior Podemos member Rita Maestre said that their aim was to show that the party is the instrument for change.

'We called the demonstration in the hope of lighting the torch (flame).'

In roughly a year, Podemos has leap-frogged from being the dream of a handful of university professors and activists to a political party.

A supporter shouts slogans during the rally - attended by hundreds of thousands - in downtown Madrid today

An activist holds a sign reading 'hello troika' as Podemos builds on its early success and aims to replicate the support of Greece's Syriza party

Podemos supporters claim the traditional political class has lost all credibility. Pictured is an activist chanting during the party's rally in Madrid

Opinion polls show the party could possibly take the number one spot in upcoming elections and thus trigger one of the biggest political shake-ups in Spain since democracy was restored in 1978 after decades of dictatorship.

'The two-party framework has suffered a change. It now really does seem like a third political force can achieve government, so yes, I think it can have a great impact,' said literature student Alicia Sanchez, 20.

This year, Spain holds elections in 15 of its 17 regions followed by general elections.

Podemos' first battle will be in the southern Socialist heartland of Andalusia in March, followed by regional and municipal elections in the crucial ruling Popular Party stronghold of Madrid in May.

'The political class has lost all credibility,' said unemployed lathe worker Marcos Pineda, 54. 'The PP that governs today had its former treasurer in jail for corruption and the banks were bailed out with 40 billion euros ($52 billion) of European money, but the government refused to call it a bailout.'

The leader of Podemos, Pablo Iglesias (left), smiles and waves during the massive rally - held for a party established only a year ago

People wave Republican and Podemos party flags during the rally as they marched through the streets of Madrid, Spain

The protest swamped Puerta del Sol Square today where sit-in protests in 2011 first laid the party's foundations

Podemos has often expressed its support for some of the policies of left-wing governments in Venezuela, Bolivia and Ecuador, which makes many Spanish mainstream politicians bristle.

In Europe, it openly supports Syriza, which won national elections in Greece on January 25 and which has pledged to challenge the austerity measures imposed on the country by the European Union and International Monetary Fund.

While there are major political and economic differences between Spain and Greece, both countries have suffered severe economic crises, massive unemployment and austerity measures while simultaneously having to put up with myriad political corruption scandals.

This combination has given rise to a nationwide anti-establishment movement that has boosted Podemos and Syriza immensely.

A poll published earlier this month showed that Podemos was again in the lead to win Spain's next general election, which could result in the formation of party pacts, or even the country's first coalition government.

The Metroscopia poll of 1000 people, published in the left-leaning newspaper El Pais, showed one-year-old Podemos would take 28.2 percent of the vote, up from 25 percent in December when it fell back to second place behind the Socialists. Podemos stood at 10.7 percent of the vote when it was first included last August.