The growing distance between Catalonia and the rest of Spain is becoming problematic, and could now be considered one of the most important tail risks facing the euro. When Spain finally asks the EU for a rescue, Europe’s leaders must use the opportunity to promote dialogue and search for viable solutions.
The Catalan leader has upset the apple cart by calling early regional elections he says will be a referendum on self-rule. This will also avoid a messy poll in two years that might have seen his CiU coalition lose its majority.
The political crisis sparked by pro-independence sentiment in the northern region is heading towards an impasse. Swift action is needed to prevent Spain – and Europe – from suffering the consequences.
Spain’s restive northern region is talking of independence. But besides the political obstacles, the legal ones are substantial.