Catalonia To Declare Independence From Spain On Monday

Spanish stocks tumbled, with the IBEX index sliding into a 10% correction, following an overnight report that Catalan leader Puigdemont was set to make a statement at 9 p.m. (1900 GMT) on Wednesday, after an all-party committee of the region's parliament meets to agree a date for a plenary session on independence. That concluded moments ago and CUP, the pro-secession party that is a majority in the Catalan parliament, has announced it will declared independence from Spain in plenary session on Monday, El Pais reports.

As reported last night, Catalan President Carles Puigdemont told the BBC that his government would ask the region's parliament to declare independence after tallying votes from last weekend's referendum, which Madrid says was illegal. "This will probably finish once we get all the votes in from abroad at the end of the week and therefore we shall probably act over the weekend or early next week," he said in remarks published on Wednesday.

Puigdemont’s comments came after Spain’s King Felipe VI accused secessionist leaders on Tuesday of shattering democratic principles and dividing Catalan society, as tens of thousands protested against a violent police crackdown on Sunday’s vote. The Catalan leader is due to make a statement at 9 p.m. (1900 GMT) on Wednesday, during which he is expected to announce that Catalonia will formally announce independence on Monday.

Spain has been rocked by the Catalan vote and the Spanish police response to it, which saw batons and rubber bullets used to prevent people voting. Hundreds were injured, in scenes that brought international condemnation.

And while the constitutional crisis in Spain, the euro zone's fourth-biggest economy, has hit Spanish stocks and bonds, raising Madrid's borrowing costs, it has so far failed to have an adverse impact on the broader European market, or the Euro which has remained relatively steady in recent days.  As shares in Spain’s big lenders fell on Wednesday, Economy Minister Luis de Guindos tried to reassure investors and customers. “Catalan banks are Spanish banks and European banks are solid and their clients have nothing to fear,” he said on the sidelines of a conference in Madrid.

According to Reuters, Caixabank, Catalonia’s largest lender, said in a memo to employees late on Tuesday that its only objective was to “protect clients’, shareholders’ and employees’ interests”.

Spanish Prime Minister Mariano Rajoy, a conservative who has taken a hard line on the issue, faces a huge challenge to see off Catalan independence without further unrest. Rajoy has been fighting to maintain control after 2.3 million Catalans voted in Sunday’s makeshift referendum and the regional police force ignored orders to prevent the ballot. Preparing for launching the "nuclear option", Bloomberg added that Rajoy is mulling if, and when, to use Article 155 of the Spanish Constitution to take direct control from the administration in Barcelona.

It is unclear what Madrid's response will be if, or when, Catalonia follows through on its threat to declare independence. One option is for Madrid to challenge the declaration at the Constitutional Court, which will immediately rule against it. Next, if the Catalan government ignores the ruling, Madrid is likely to trigger article 155 of the Constitution to strip out Catalonia’s autonomy and to call for regional elections. This would be a risk-negatie scenario, and one which Citi said "could trigger a civil rebellion, with possible wide disruptions and violent confrontations. A move by the regional police force to ally with the pro-independence parties could significantly escalate the situation."

Comments

Déjà view Muslimania Wed, 10/04/2017 - 11:27 Permalink

More things change...more they stay the same...what is different...other than involving a breakup of an €.U. nation...
'Democrazy'...$eriously?

Europe, Backing Germans, Accepts Yugoslav Breakup
By STEPHEN KINZER,
Published: January 16, 1992

BONN, Jan. 15— In a triumph for German foreign policy, all 12 members of the European Community, as well as Austria and Switzerland, recognized the independence of the former Yugoslav republics of Slovenia and Croatia today.

http://www.nytimes.com/1992/01/16/world/europe-backing-germans-accepts-y...

Are €.U./España hypocrites?

In reply to by Muslimania

NumNutt 2ndamendment Wed, 10/04/2017 - 09:51 Permalink

The funny thing that Europe seems to forget is that the US went through a serious civil war to solidify the federal control over the states, and thus create the "United" States of America.  To create their "United" States of Europe there will need to be a lot of blood spilled to solidify the control....or the entire experiment will fail.

In reply to by 2ndamendment

Ghordius 2ndamendment Wed, 10/04/2017 - 10:20 Permalink

"the differences between the left and the right"I was expecting one of those comments in the likes of "there is no difference"Mimir is nevertheless - if you accept that there is a difference - correctof course, there are many here that don't recognize for example the Spanish PP as "right". or any EPP party as "right" (including the Hungarian Fidesz and it's leader, Victor Orban)"smacker", for example, a staunch ZH commentator and Brit supporting his favourite MP, Jacob Rees-Mogg, recognizes nobody on this planet except this gentleman as "conservative"how about a different word? Nationalist? Rajoy is doing the Nationalist thing... for Spain:preserving the integrity of the Spanish National Territory, the integrity of the sovereign Spanish Nationthe Catalan independentists are too trying the Nationalist thing: restoring the sovereign Catalan Nation with it's National Territory

In reply to by 2ndamendment

JimmyJones Ghordius Wed, 10/04/2017 - 10:51 Permalink

Maybe Rojoy needs to start looking at why the Catalonians want independence to begin with?  What is their motivation? Why do they think they are getting a "raw" deal want to leave greater Spain?  If he is unwilling to do that, then bloodshed is around the corner.  If the people their are pissed, feel they have voiced their opinion and that opinion is ignored it will lead to violence, always does.

In reply to by Ghordius

RedDwarf Mimir Wed, 10/04/2017 - 11:38 Permalink

"What ??? Both the Spanish Government and the Governent of Catalonia are rightwing. Nothing "socialist" to find !"You are ignorant, and I'm going to prove it.Nationalism is 'right wing'.  Socialism is 'left wing'.  Nazis were National Socialists.  They were right wing and left wing at the same time.  Which means left and right wing are false dichotomies.  Elites offer us false political choices as a means of control.The real dichotomy has always been authoritarianism vs individual liberty.

In reply to by Mimir

toadhall HoyeruNew Thu, 10/05/2017 - 11:04 Permalink

no, 'politics is a circle' is just bullshit served up by educationalists over the last fifty years.The biggest con trick the post war socialists achieved was managing to persuade everyone that hitler was right wing. Hitler would not have approved. He fought the commies in the 1930s for power not because they were left, but because he didnt like their brand of socialism. He thought his was better.By labeling hitler rightwing, and also libertarians as right wing, it quickly allows you to call all libertarians fascist. Anyone with half a brain can see that libertarianism has NOTHING in common with fascism. Politics is not a circle, but a straight line.Socialists at one end, libertarians at the other.Fascism, communism, marxism, statism, liberalism are all brands of socialism.  

In reply to by HoyeruNew

Fireman Wed, 10/04/2017 - 08:37 Permalink

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Spanish fascism is alive and well inside the evil EUSSR. Meanwhile lame duck STASI "Erika" Merkill trying to cobble a rag tag government of globalists together has nothing to say about the resurgence of Franco style fascism. It is obvious that democracy is dead in Urupp and that EuroPeons are going to be feeling the stomping of jackboots more and more as the collapse approaches. God bless Catalonia and her people. The Franco fascist sewer that is modern Spain. https://www.youtube.com/watch?v=hXrYBUAcYUo Sunday's fascist display by citizens in Madrid. https://www.youtube.com/watch?v=7A92B6ps-Vk

ZorroHedge Wed, 10/04/2017 - 08:44 Permalink

These politicians will end up in jail. Catalunya is going nowhere. First of all, the referendum was illegal. Second, even if it was legal 60 % didn't bother to vote because they considered the referendum illegal. You can't seperate based on a referendum in which only 40 % of the population showed up. Minorities don't have the right to decide what majority should do. Anyway, good luck in prison, Puigdemont.

Vageling ZorroHedge Wed, 10/04/2017 - 08:56 Permalink

The problem is that you assume that because they didn't voted they must be against. Considering the situation around the voting I don't think that is a valid conclusion to take. Also unless it's lawfully stated that it needs a threshold of 51% of the registered voters the "minority" actually can decide because the votes count. It's about the outcome of the vote. Didn't vote? That's like waiving your right to have a say. 

In reply to by ZorroHedge

ZorroHedge Vageling Wed, 10/04/2017 - 09:24 Permalink

Your reasoning is completely retarded. You can't split a country based on a referendum where nobody showed up. Lawfully stated ? Are you for real ? So the law matters when it suits your purpose and you ignore the law when it doesn't suit your purpose ? There is actually a law in Spain that forbids referendums questioning territorial integrity. So that law doesn't count for you because it doesn't suit your purpose, right ? And exactly by that law the referendum was illegal and those that were against the referendum didn't show up to vote exactly because of that law. The only ones that went to vote were those that were in favour of it. This means that less than 40 % of Catalans want to split. Aren't you the guy that like democracy and think the will of the people is important ? More than 60 % of Catalans are not in favour of splitting the country. So if you really cared about democracy you would agree that there is no democratic majority supporting this split. But because you are not a democrat but rather a hypocrite, again you twist the results so they are in favour and suit your purpose. With other words, just like that Catalan politiicians you are a dictator imposing your minority will on 60 % of Catalans. Actually you are worse because you are not even Catalan or Spanish to begin with so you should just shut up and mind your own business. 

In reply to by Vageling

ZorroHedge BarkingCat Wed, 10/04/2017 - 09:44 Permalink

https://en.wikipedia.org/wiki/Catalan_self-determination_referendum,_20… fucking retard. In 2014 they voted without any Spanish police prohibiting them. Turnout was between 30-40 %, just like now. If you are a dumb ignorant fuck, than don't speak. First quit your alcohol problem and then get schooled before you start making comments. There is no majority in Catalunya for independence. It might be different in the Basque Country but in Catalunya there has never been a democratic majority to split from Spain, you stupid piece of retarded shit.

In reply to by BarkingCat

Vageling ZorroHedge Wed, 10/04/2017 - 12:30 Permalink

Again, you're making assumptions. I've remained fairly neutral here on this subject. Other than: I don't see the point of this (referendum) and that's it's illegal. The rest of what you're saying makes no sense. They didn't show up because of the law doesn't mean it's a vote against. Stop projecting. Your logic is flawed. The referendum says nothing. Even if they had a proper one, it would be non binding. Madrid doesn't have to accept it due to constitutional reasons. Your entire way of thinking shows why this is going FUBAR. Both sides being hot headed fruitjobs. Recipe for disaster. 

In reply to by ZorroHedge

Ghordius Vageling Wed, 10/04/2017 - 09:25 Permalink

vageling, I find it is a reasonable assumption nevertheless. the context of all this was:- the local government of Catalonia, constitutionally a part of Spain, calling for a referendum of independence from Spain- the constitutional court of Spain judging it illegal / against the constitution. which would have been impossible if the referendum was called throughout Spain, for all Spaniards, note. but it was only a part of the Spanish electorate, the Spanish "Demos" that was called to vote- the Spanish government declaring it was going, because of the court's ruling, to confiscate all material for such illegal endeavour, and asking people to refrain from going to this poll- and, last but not least, the Spanish police all over the placemeanwhile, the true litmus test for me for any referendum is actually quite simple: are external, foreign monitors allowed? freely and without expecting to be hassled or hindered to watch? no? then... it's not a proper referenduma proper referendum allows external watchers, in peace and quiet. because of that (true) quip of Stalin: "who counts the votes?" (and how)of course with paper ballots, secrecy of the vote and checks on the counting, all in public, and monitors satisfied with what they saw, and being able to say so without expecting retaliationfew of those points, if any, apply to this referendum

In reply to by Vageling

Haus-Targaryen Ghordius Wed, 10/04/2017 - 09:29 Permalink

Scrap the bullshit Ghordo. Why is it so hard for you to say "Yeah, if they get independence it hurts the EU and the euro, specifially, thus I oppose it."And be truthful as opposed to trying to hide your true intentions behind your opinions.See, I'll demonstrate: "I support Catalonian independence because I want to see the EU and EMZ burn." 

In reply to by Ghordius

ZorroHedge Haus-Targaryen Wed, 10/04/2017 - 09:31 Permalink

I am against the EU but I don't support the Catalan independence simply because there isn't even a majority in Catalunya to split. You want Catalunya to split because you want the EU to split. So that makes you the same dicators as the EU leaders. There is no majority in Catalunya to split so your opinion is irrelevant. 

In reply to by Haus-Targaryen

Haus-Targaryen ZorroHedge Wed, 10/04/2017 - 09:35 Permalink

The purpose of my post was not to state my opinion, per se, but to call out Ghordo for being dishonest. If I could see the EU and EMZ burn with Catalonia remaining, I'd be all for that.  Regrettably, Rajoy was put in place to do one thing and one thing only: keep Spain's banking system under control. Should this spat with Catalonia go south, I see this as very destabilizing for the Spanish banking system, which is too big for the ECB to bailout.  They'd have to haircut not just people in Catalonia but in the entirety of Spain (and likely Portugal as well, based on debt ownership chains I've been looking into today).

In reply to by ZorroHedge

ZorroHedge Haus-Targaryen Wed, 10/04/2017 - 09:51 Permalink

So you wish the banking system to fail ? Be careful what you wish for. Of course the EU doesn't want Catalunya to split. That would destroy the EU. But I don't think an undemocratic split of Catalunya is necessary for the EU to disintegrate. And yes if the Catalan president calls for independence than that will be an undemocratic act. Not because it is illegal according to the Spanish constitution but because there turnout was not big enough to give this referendum any weight. Moreover, I have to agree with Ghordo about the way the referendum was held. There was no control, people voted multiple times, ... You can't have a referendum like that. There is nothing democratic about such a referendum.

In reply to by Haus-Targaryen

Haus-Targaryen ZorroHedge Wed, 10/04/2017 - 10:24 Permalink

Be very careful with Ghordo, this is the same guy who supported the EU's acceptance of Kosovo's independence bid without a referendum. When dealing with the guy, he looks at the world the same way as I do, just 180° the other way and it goes like this:"Does the outcome of this event help or hurt the euro and/or the EU?"If the answer is "It hurts" then he is against it and I am for it.  If the answer is "it helps" I am against it and he is for it. There is no intelligentsia in him, he uses faux intelligentsia to paper-over his true north. He regrettably lacks the courage to admit it. EDIT: Due to my job, I am more familiar than most what happens if the Spanish banking system fails.  It will be the scariest event in our lifetimes and will be the epitome of "tail risk".  I am of the opinion, that however, something along these lines is necessary to save the various European civilizations, languages, cultures, religious practices, belief systems and ethno-homogeneity.  

In reply to by ZorroHedge

GreatUncle ZorroHedge Wed, 10/04/2017 - 13:22 Permalink

Catalonia was never going to be allowed a referendum.Personally think the referendum was called at this time because the Spanish economy is hurting to much and for too long.A few decades ago or before they could just ctrl-P to negate some of the pain not this time.That economic pain is driving it, illegal only in the context of whoever makes the rules and it is not the Catalonians.As for sovereignty and constitutional arguments all bullshit now once you handed that over to the EU its gone.So I think because Spain is a member of the EU and has signed up for the EU superstate it should fall upon the EU commission to step in to mediate this.Reckon they don't because that would then put Spain into constitutional crisis taking orders from the EU.

In reply to by ZorroHedge

Haus-Targaryen Ghordius Wed, 10/04/2017 - 10:08 Permalink

As a rough guesstimate -- I look at how much the ECB and Germany dumped into Greece + Spain + Ireland + Portugal from 2010-2015 and double it.  Does that sum cover 30% of the Spanish banking's systems consolidated balance sheet?  Nope? In my mind, that's too big to bailout.  If they get bailed out then the ECB needs to start explaining to the smaller countries, specifically Greece, why there is one set of rules for the bigger countries and one set of rules for the smaller countries.  

In reply to by Ghordius