Catalonia to markets: ‘Expect worse’
By 10am on Monday October 16, Catalonia's president Carles Puigdemont must clarify whether this week’s declaration of independence was firm. Many in capital markets have dismissed the possibility of Spain’s constitutional crisis causing market volatility, but the Catalan government is approaching its week of reckoning in combative mood, write Lewis McLellan and Victor Jimenez.
“The Bonos premium could skyrocket to 2011 levels unless Spain sits at the negotiation table,” said a source at Catalonia’s finance ministry. “Things are going to get worse, much worse, between Madrid and our government in the coming days.”
According to a former member of the Catalan government,
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