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, 10 against and 2 blank ballots, the assembly’s speaker said. Lawmakers from three mainstream national parties—the People’s Party (PP) of Spanish Prime Minister Mariano Rajoy, the Socialist Party, and the centrist Ciudadanos party—had left the chamber before the vote in protest.
The vote comes as the central government in Madrid completes the formalities of imposing direct rule on Catalonia in response to what it sees as an illegal secession. Catalonia has enjoyed widespread autonomy under the 1978 constitution which restored democratic rule after the death of right-wing dictator Francisco Franco. Spain’s Senate voted to impose central control over Catalan institutions Womens Nike Air Max White Australia
, such as its police force and tax collectors, within minutes of the vote in Barcelona.
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, which had hoped until the last for some kind of face-saving compromise. Regional leader Carles Puigdemont had only appeared to give up on finding such a compromise Thursday, after threats from the more extreme members of his own coalition to leave the government if he failed to press on.
The benchmark IBEX 35 stock index fell 1.8% in a matter of minutes after the vote. The yield on Spain’s benchmark 10-year bond, a rough proxy for the country’s political risk, rose by 0.07 percent to 1.62%. While that’s a sharp movement Womens Nike Air Max Clearance Australia
, it pales in comparison to 2012, when markets feared that debt problems in Spain and Italy would blow the Eurozone up completely. In the foreign exchange markets, the euro fell below $1.16 for the first time since July, although the bigger factor behind the euro’s decline this week has been the European Central Bank’s decision to extend its quantitative easing program to at least September next year.
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, an analyst with London-based Oxford Economics, noted that the market reaction had been “extremely calm, given the gravity of the political situation.” Bond yields are a benchmark for the cost of credit across the economy, and Talavera said that the lack of a more violent response should keep the economic impact limited. He is cutting his forecast for Spanish growth next year by only 0.2 percent to 2.5%.
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