Chicago teachers
© The Chicago TribuneChicago Teachers Union members protest cuts as they march downtown toward City Hall.
Police in the US State of Illinois have reportedly arrested at least 12 teachers at an anti-austerity rally in Chicago.

The arrests were made Thursday as at least 1,000 teachers and their supporters marched through the Loop, Chicago's financial district, to protest against cuts proposed earlier this week by Chicago Public Schools (CPS). Teachers said they wanted to express anger over CPS's threats to cut $100 million from the budget, which would include layoffs affecting the classroom.

Their rally was organized by the Chicago Teachers Union (CTU) whose officials blame the financial institution, Bank of America, for bad investments that have helped hurt the shaky finances of the school system, US media reports said.

The march began at Bank of America around 4:30 p.m. local time, where police intervened after people allegedly went inside the bank, sat down and chanted. Afterwards, the protesters, who by some accounts had turned out in their thousands, headed to Congress building. The rally continued south from LaSalle, blocking Congress Parkway before returning north via Dearborn to Daley Plaza. Protests concluded at City Hall.

The protesters held banners reading "Banks rob schools" and "Starving schools to feed the rich" as well as chanting "Save our schools." CPS officials have reportedly expressed hope an agreement could be reached with teachers.