The Spanish government, by levying heavy sentences against organizers of a Catalonian independence referendum, has made its bed. Now it will have to lie in it. From Tyler Durden at zerohedge.com:
Central Barcelona has reportedly been paralyzed as mass protests which international reports estimate to number over a half-million people are driven by outrage at harsh prison sentences for pro-independence leaders handed down by the top Spanish court.
Protest leaders are vowing “the streets will be ours” as they push for Catalan independence, and as riot police have begun clashing with stone-throwing activists, who are also in some places of the city setting makeshift roadblocks ablaze.
With night fall, reporters on the ground are describing what’s beginning to resemble a war zone, with increasing violence against police, as also both far-left and far-right agitators are said to be infiltrating the crowd and engaged in increasing violence and vandalism.
The Spanish government will do whatever it takes to keep milk-cow Catalonia part of Spain. From Don Quijones at wolfstreet.com:
The clandestine role of the Spanish government in a run on deposits that drained €29 billion from Catalan banks.
Just over a year has passed since over two million people in Catalonia voted in a banned referendum to leave Spain. On that day, the separatists were given a brutal lesson in the raw power of state violence. Days later, they were given another harsh lesson, this time in the fickleness of money. Within days of holding the vote, which was brutally suppressed but not prevented by Spanish police, Spain’s north eastern region was forced to watch as one after another of its brand names moved their headquarters, at least on paper, to other parts of Spain.
Among the first companies to up sticks were Catalonia’s two largest banks, Caixabank and Banco Sabadell, which feared being cut off from European Central Bank funding in the event, albeit unlikely, of Catalonian secession. That would have meant no more virtually interest-free loans from the ECB or access to Europe’s repo markets. In other words, a death sentence, as Caixabank’s then president Isidro Faine recently admitted.
SLL HAS MANY OF THE SMARTEST AND BEST INFORMED READERS ON THE INTERNET. IT REQUIRES TIME AND EFFORT TO MAINTAIN THE SITE AND FEATURE THE ARTICLES YOU WANT TO READ. PLEASE CONSIDER MAKING A PAYMENT AS COMPENSATION FOR THE VALUE YOU RECEIVE FROM SLL. THANKS.