Spanish Senate suspends Catalan autonomy invoking 155

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The Spanish Senate approved invoking Article 155 of the Spanish Constitution. They basically gave a free hand to the Spanish government to act. PM Mariano Rajoy is expected to remove Catalan President Carles Puigdemont from his job. VP Oriol Junqueras will probably be removed as well.

The approval by the Senate also allows the suspension of the Catalan parliament and also the Catalan broadcaster TV3. Madrid previously announced that they will call fresh regional elections within 6 months.

Expected after Catalonia´s declaration of independence by the Catalan parliament earlier.

The Spanish government is convening after it received the green light and will decide on the measures. Initially, reports came out that the government will meet at 19:00 local time.

EUR/USD is stabilizing around 1.16 after the news from Spain and the upbeat US GDP that sent it lower.

more coming

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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