What’s the Next Move For Catalonia?

Catalan separatists are trying to find a way to put off a definitive declaration of independence to create space for a negotiated settlement with Spain, according to two people familiar with their plans.The movement’s leaders are divided over their next step, with hardliners from the party CUP demanding the regional government make good on its plans for a unilateral declaration of independence following Sunday’s illegal referendum, according to the people, who asked not to be named because the conversations are private. Regional President Carles Puigdemont’s mainstream separatist group is concerned that such a move would have immediate negative consequences for the economy, the people said.Spain’s benchmark stock index jumped as much as 1.2 percent on the news and settled 2.5 percent higher at 4:02 p.m. The country’s 10-year bond spread narrowed by 6 basis points.

Source: Catalans Stall Independence Push With Leaders Divided – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.