Spain Invokes Article 155

Oct 20, 2017

Spain’s government said that it would implement Article 155 of the Spanish constitution and suspend Catalan autonomy on Saturday The president of Catalan has refused to drop the region’s claim of independence. Catalan’s president tried to get Madrid to agree to talks and hinted that if Catalan would declare independence if Madrid did not agree. Two separatist leaders were arrested and jailed on Monday. Government officials are investigating other leaders. More arrests may be coming. Catalan separatists urged its supporters to pull their cash out of CaixaBank and Banco Sabadell “to protest . . . their decision to shift their legal domiciles out of the region.” The bank runs could put pressure on the banks’ liquidity as well as cause problems for the Spanish government. If Article 155 is implemented, the current president of Catalan will be replaced within 48 hours. New regional elections in Catalonia will also be set. Prime Minister Rajoy is getting some pushback from politicians in the legislature. While Socialist back Rajoy’s position, they are telling him to take a gradual approach with Catalan.
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