Spain Plans to Suspend Catalonia’s Autonomy

Spain’s central government has said it will move to suspend Catalonia’s autonomy after the regional leader failed to drop a bid for independence.In a statement on Spain’s government website Thursday morning, Madrid said that the Catalan leader Carles Puigdemont had refused to comply with a request to confirm whether the region had declared independence.Consequently, it said it would “continue with the procedures provided for in Article 155 of the constitution to restore legality in the self-government of Catalonia.” Meaning, the government is set to meet Saturday to propose measures to strip Catalonia of some powers and officially trigger Article 155 of the Constitution.

Source: Spain to suspend Catalonia’s autonomy after regional leader fails to drop independence bid – CNBC

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Spain to Trigger Suspension of Catalan Autonomy on Saturday

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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.