Work resumed normally in Catalonia and calm reigned on the streets on Monday despite calls for civil disobedience from secessionist politicians, in early signs the direct rule imposed to stop an independence bid was taking hold.
Although some public sector workers have yet to tell their new bosses whether they will accept orders, the lack of unrest came as a relief for financial markets, which rose.
Catalonia, a prosperous region with its own language and culture, triggered Spain’s biggest crisis for decades by holding an independence referendum on Oct. 1, which Spanish courts called illegal.
Spain’s Prime Minister Mariano Rajoy assumed direct control of the region on Friday, sacked its secessionist government and called a snap election for Dec. 21.
However, some of the most prominent members of the Catalan administration, including its president, Carles Puigdemont, and vice-president, Oriol Junqueras, had said they would not accept the move and only the people of Catalonia could dismiss them.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.