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Spanish PM says that the speech yesterday by Puigdemont leaves a lot of uncertainty and wants clarifications. If this indeed a declaration of independence, he vows to activate Article 155 and suspend the Catalan autonomy.  

This extends the drama a bit further. The Catalan crisis begins looking like the Greek crisis – a neverending one. The next move by the Spanish government will come “in the next few days” according to Rajoy.

Spanish Prime Minister Mariano Rajoy responds to the announcement made yesterday by the Catalan government.  Catalonia’s president Carles Puigdemont said that they had won the right to an independent state, but that they are suspending the decision in order to open the door to a dialog.

EUR/USD advanced slightly after the highly anticipated speech by Puigdemont, but is now sliding.

One of the options on the table is suspending the Catalan autonomy, invoking Article 155 of the Spanish constitution.

More:  Catalan crisis: the good, bad and ugly scenarios for Puigdemont’s speech