Thousands of people packed into Madrid's emblematic Puerta del Sol square on Tuesday for a pot-banging protest to mark the first anniversary of the founding of the May 15th Movement, representing Spaniards who are "indignant" about austerity policies amid recession and 24 percent unemployment.

Protected from the heat of the sun by umbrellas and handkerchiefs on their heads, protesters of all ages banged pots and pans and clapped their hands, raising their fists to demand a change in the system and denounce Spain's financial and political elites.

"No, they don't represent us," the "indignants" shouted, some hugging each other with emotion when the din of the pot-banging first sounded, because as Carlos Herga told Efe, the anniversary events of the past four days "have been magnificent."

"We've collected many signatures to demand that a bill be introduced to regulate foreclosures and stop the evictions," Carlos, a member of a group representing homeowners facing foreclosure, said.

"It doesn't stop here" he said. "The May 15th Movement has a long way to go - we've already done a lot and this is only the beginning. There's a lot left to do."

Together with Carlos, also banging pots and pans, were seniors collecting signatures to demand no freezing of pensions.

"Here in Puerta del Sol alone we've collected more than 6,000," one of them said.

One ovation after another accompanied the pot-banging protest, also listened to attentively by police stationed around the seat of the Madrid regional government.