gpolit.com
gpolit.com December 13, 2017


Spain's IBEX pulls out of nosedive as banking stocks recover

06 October 2017, 12:26 | Rufus Hill

Getty Images

Lionel Messi

CATALONIA will move on Monday to declare independence from Spain, a regional government source said, as the European Union nation nears a rupture that threatens the foundations of its young democracy and has unnerved financial markets.

The country's constitutional court said such a declaration would be "a breach of the constitution".

"The king endorses the discourse and policies of the government of [prime minister Mariano] Rajoy, which have been catastrophic for Catalonia and deliberately ignore the millions of Catalans who do not think like them", he said.

Opposition parties have announced plans to appeal to the Constitutional Court to halt Monday's plenary session in the regional legislative.

The speaker of the Catalan parliament Carme Forcadell warned such a move "would just increase support for the pro-independence side".

Although 90 percent of the 2.26 million Catalans voted for independence, voter turnout was low at 42 percent, with many anti-independence voters abstaining.

The conservative government of Prime Minister Mariano Rajoy has given no response to the mediation offer, but has made clear that it considers a dispute that threatens the country's Constitution a matter for Spaniards, not worldwide arbitration. In a rare and strongly worded television address on Tuesday, the king described the regional government's actions as "an unacceptable attempt" to take over Catalan institutions and said it had placed itself outside democracy and the law.

The leader, however, did not give any further details of a possible declaration of independence.

"With this day of hope and suffering, the citizens of Catalonia have won the right to an independent state in the form of a republic", Puigdemont said on Sunday. For example, some of Mr Rajoy's clearest backing has come from French President Emmanuel Macron, whose country has faced low-level breakaway sentiment from Corsica and the Basque Country, which straddles both south-west France and north-west Spain. The vote on Sunday saw shocking scenes of police with batons beating unarmed voters. This comes after hundreds of Spanish police were evicted from hotels after their crackdown.

Spain's fifth-biggest bank Sabadell was set to discuss Thursday whether to shift its legal domicile away from Catalonia in response to the crisis, a spokesman said.

The court stated that such a move would be "a breach of the constitution", BBC reported Thursday.

Opinion polls conducted before the vote suggested a minority of around 40% of residents in Catalonia backed independence.

The wealthy northeastern region is home to Barcelona and boasts a distinct culture and language.

He said: "This moment calls for mediation".



Other News

Trending Now

Tom Petty Gets Musical Tributes from Sheryl Crow and Coldplay
For more than 50 years gold says Petty inspired artists like himself, beating to the tune of his own drum. "I just was a big fan". He was great performer, full of the light, a friend, and Ill never forget him. "That's my favorite Tom Petty song", he explained.

Las Vegas shooting updates: Portraits of the victims emerge
Paddock and Danley moved around constantly, with properties in Arkansas, Nevada, California and Texas, public records show. Paddock was found dead in his room of a self-inflicted gunshot wound before midnight, as law enforcement closed in.

Microsoft axes Groove Music service
It will not, however, be migrating playlists, so you'll probably be wanting to think about how you're going to recreate those. Microsoft is not introducing any new music service; instead, the company is transferring existing Groove users to Spotify .

Pro-Brexit party picks leader, rejects anti-Islam candidate
A banner was superimposed with an image of Mr Farage posing as Adolf Hitler with the European Union logo in the background. Phil Hornby spent the day on the English Riviera, and watched the build-up to an unexpected result.

New era of solar power is now upon us, IEA says
This means growth in renewable generation will be twice as large as that of gas and coal combined. Indeed the latter is predicted to double by 2022, overtaking the combined might of the EU.

United Kingdom manufacturing still on the up
Growth in the UK's manufacturing sector slowed slightly in the third quarter of the year as costs rose on the back of higher inflation.

There Are Now Over 100 PlayStation VR Games Available
In partnership with Capital One, Sony will be introducing its new PlayStation credit card for all fans of the gaming console. The packaging for the refreshed headset will also be slightly different, with a new product image that shows the changes.

Netflix Subscriptions in the US Are About to Get More Expensive
The regular plan that is $7.99 a month, that only allows one-screen streaming in standard definition, will see no price change. Wall Street appeared to approve of the move, as Netflix shares were up almost 4% to $191 apiece in midday trading.

Trump in hot water over Puerto Rico response
Shaun King, a writer and liberal activist with a popular social-media presence, said the president's tweet targeting Ms. Trump says in tweets that the federal government has done "a great job with the nearly impossible situation".

The Republican 20-Week Abortion Limit
Polls consistently show that large, diverse majorities of Americans support this legislation - women in higher numbers than men". The lone no vote from the state's delegation to the House of Representatives was Cedric Richmond, a Democrat from New Orleans.