Mike “Mish” Shedlock's
Sitka Pacific Capital Management,Llc
A major showdown with Madrid is in the works as the Catalan Parliament to Vote on Independence from Spain.
The Catalan independence campaign heads for a potentially perilous new phase on Monday, as the regional parliament prepares to vote on a resolution to “disconnect” from the rest of Spain and renounce all rulings from the country’s constitutional court.
The resolution commits the recently elected parliament to the “creation of the independent state of Catalonia, in the form of a republic”.
It also calls for the passing of new legislation to set up an independent tax authority and social security system within 30 days.
Most controversially, perhaps, it states that the Catalan parliament is no longer bound by the decision of Spanish institutions and, in particular, the constitutional court, the highest tribunal in Spain.
The resolution is the first fruit of the uneasy alliance between the two main pro-independence groups, Junts pel Si and the Popular Unity Candidacy (CUP). The two groups won a majority of seats in the Catalan parliament in September, but are divided on key issues of strategy and policy.
The CUP, a radical leftwing party that opposes Nato and EU membership, has so far refused to back Artur Mas for another term as president of Catalonia. Mr Mas, a senior figure in Junts pel Si, hails from a moderately nationalist, business-friendly political background. But he has steadily moved towards a more hardline pro-independence stance.
What's Next?
If the vote is for independence, what will Spain do? Call out the army?
What will president Obama say?
Is it acceptable for the US to back Egyptians demanding a government overthrow, and orchestrate a coup in Ukraine, while denouncing the right of self-determination to Catalans?
No, it's not acceptable, and it is hypocritical, but it's exactly what one should expect.
This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.
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