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Spain moves to suspend Catalonia autonomy

21 Octubre 2017, 02:09 | Bibiana Flor

Spain ready to impose direct rule on Catalonia on eve of deadline

Spain Catalonia

WIC News understands that Saturday will see Prime Minister Mariano Rajoy's administration will decide on a list of powers to bring under Madrid control.

Leaders of the Northern province were given a deadline of 10:00 am Thursday to renounce their earlier threat of a unilateral declaration of independence or face Madrid's invocation of Article 155 of the Spanish constitution.

Spain will move to suspend Catalonia's autonomy unless the region's leader drops his push for independence, the deputy prime minister says.

Rajoy could best do that by agreeing to a dialogue.

Spain's supreme court declared the vote illegal and said it violated the constitution, which describes the country as indivisible.

Meanwhile, in the corporate space, German battery-maker Varta began trading in Frankfurt following an IPO that saw its shares priced to go at €17.5, at the to end of the indicative range.

'The Government of Spain will continue with the procedures provided for in Article 155 of the Constitution to restore legality in the self-government of Catalonia, ' expressed in a statement the Moncloa Palace, headquarters of the central executive.

Besides, thousands of police agents and civil guards were sent from other Spanish regions to prevent the vote, which they heavily repressed. More than 900 people were injured.

Pro-independence activists in Catalonia went into rushed meetings Thursday to organize mass demonstrations, distribute instructions for peaceful civil disobedience and plan to surround government buildings. However, he suspended official steps for a parliamentary vote.

A stronger euro despite the continuing political stand-off in Spain weighed on stocks across the continent.

The solution of the Catalan crisis includes the restoration of social trust in the independence of judiciary.

BBC reports that Catalonia's government has insisted it will not meet Madrid's demands in the wake of a disputed vote on secession. But a Catalan official has ruled that out.

On Saturday the Spanish government has a chance to begin afresh with the Catalan leader, who has repeatedly expressed his desire for dialogue, not conflict.

French President Emmanuel Macron wants this week's European Union summit to show solidarity with Spain as Catalonia threatens to secede.

The benchmark DAX was down 65 points or 0.50 percent at 12,978 in late opening deals after rising 0.4 percent the previous day.

In the longer term, if Catalonia splits, Spain's economy - Europe's fourth largest - could lose 20 per cent of its revenue.

Such a declaration "will see the fracture between hardliners and the pragmatic people in Catalonia, who are already seeing an economic fallout", Dowling said. The judiciary is independent, but secessionists argue that "the Spanish state" is ganging up on them.

Andrew Dowling is an expert in Catalan history at Cardiff University in Wales.

"The only thing I am asking Mr. Puigdemont is that he act sensibly, that he act with balance, that he puts first the interests of all citizens, of all Spaniards and all Catalonians", Rajoy said.

Spain's Association of Commercial Registers says 700 companies have moved their registration addresses out of the region.



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