by Graham Summers
Gains Pains Capital

Spain was already experiencing a banking crisis as well as a sovereign crisis. It’s now on the verge of a constitutional crisis (as well as its ongoing sovereign and banking crises).

Secession crisis heaps pain on Spain

Spain lurched further towards a full-­‐blown constitutional crisis as Catalonia announced a snap election potentially opening the way for the country’s most economically important region to declare independence from Madrid.

As police in the Spanish capital barricaded the Spanish parliament against anti-­‐austerity protestors, the government of Mariano Rajoy vowed to stand firm against a drive by Catalonia for secession as the Spanish leader faces the most critical period of his premiership.

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