Spanish PM Against Scotland Vote Should Worry About Catalunya

Spanish Prime Minister Mariano Rajoy fired a last-minute broadside on Wednesday against Scotland’s independence referendum, warning that such events “torpedo” the foundations of Europe and wreak economic recessions.

Rajoy’s centre-right government has been trying to quell calls in the northern Spanish region of Catalonia for a similar vote on breaking away, denouncing such a move as illegal.

With the regional government in Barcelona – which has pencilled in a consultation on independence on November 9 – set to potentially give such a vote a green light on Friday, the spotlight could turn to Catalonia’s drive to cut ties with Spain a day after Scots are due to vote on whether to stay in Britain.

“The whole of Europe believes these processes are enormously negative,” Rajoy told parliament in Madrid, when asked whether his government would facilitate Scotland’s integration into the European Union if it voted “yes” to independence on Thursday.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza