Business Standard

Spain dissolves Catalan regional parliament

- AGENCIES

Spain on Friday sacked Catalonia’s regional government, dissolved the Catalan parliament, and called a snap election in the region for December 21. The move comes hours after the Catalan parliament declared independen­ce.

Spain on Friday sacked Catalonia's regional government, dissolved the Catalan parliament and called a snap election in the region for December 21, in a bid to draw a line under Spain's worst political crisis in 40 years.

"We believe it is urgent to listen to Catalan citizens, to all of them, so that they can decide their future and nobody can act outside the law on their behalf," Spanish Prime Minister Mariano Rajoy said in a televised speech.

Earlier, Catalonia’s Parliament voted to declare an independen­t state, setting up a dramatic confrontat­ion with Spain as the government in Madrid was granted the power to seize control of the insurgent region.

The resolution approved by lawmakers in Barcelona said the establishm­ent of Europe’s newest sovereign country had been set in motion. The portion of the text submitted to a vote included measures to ask all nations and institutio­ns to recognise the Catalan Republic.

Hours later in Madrid, the Spanish Senate approved measures giving the Prime Minister the power to oust the rebel leaders and take over the Catalan administra­tion via Article 155 of the 1978 constituti­on. "The Catalan Parliament has approved something that in the opinion of the great majority of people doesn’t just go against the law, but is a criminal act because it supposes declaring something that is not possible,” Rajoy said there.

Catalonia’s tumultuous push for independen­ce reached its climax with regional President Carles Puigdemont squeezed by the irreconcil­able demands of his own hardliners and authoritie­s in Madrid. In the past 48 hours, the Catalan leader sought to avoid the chaos of an illegal secession without provoking anger among his base, to no avail.

Spain’s 10-year bonds dropped, with the spread against benchmark German bunds widening by seven basis points to 119 basis points. The country’s benchmark stock index, the Ibex, fell 1.4 percent, all but erasing Thursday’s gain when it looked like all-out declaratio­n of independen­ce might be avoided.

“We constitute the Catalan Republic, as an independen­t and sovereign country, under the rule of law,” Catalan parliament­ary speaker Carme Forcadell read out before the secret ballot. Separatist lawmakers broke into the Catalan anthem after the vote, which was boycotted by opposition parties.

 ?? PHOTO: PTI ?? Spainish Prime Minister Mariano Rajoy
PHOTO: PTI Spainish Prime Minister Mariano Rajoy

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