On September 27, the Catalonia region of Spain holds parliamentary elections.

It now seems near-certain that Catalan political parties favoring independence will increase their outright majority of seats, putting the region on a collision path with the central government in Madrid.

Voter Intentions

image: http://4.bp.blogspot.com/-DWJUsOEbUxI/Vf20uLLzzvI/AAAAAAAAfe8/7JZcuko0PaQ/s400/Independence.PNG

Thanks to reader Bran who lives in Spain for the El Pais Article that contained the above graph. Translation and anecdotes by me.

Together for Yes

Earlier this year, the political parties Convergence and Union (CiU) and the Republican Left of Catalonia (ERC) entered a coalition. The result was Junts pel Sí which means "Together for Yes".

If the outcome is as expected, "Together for Yes" would fall one vote short of an outright majority. However, the Popular Unity Candidacy (CUP) is expected to pick up 10-11 seats.

Although CUP did not join the "Together for Yes" coalition, it is firmly in the independence camp.

Total them up and you have 78 votes for independence and 57 votes to remain with Madrid. 

Spanish Banks Warn Against Catalonia Independence

With that backdrop, Madrid and the banks are both upset.

The Financial Times reports Spanish Banks Warn of Financial Risks of Catalonia Independence.

Read more at http://globaleconomicanalysis.blogspot.com/2015/09/showdown-in-spain-independence-parties.html#RBjESvxEwRPEJ4eh.99