CATALAN VOTE
The citizens of Catalonia in Spain have gone to the polls today in a major regional election to determine the future of the region.
The vote will pit pro-independence parties against groups who wish for Catalonia to remain as a part of Spain. Earlier in the year, a pro-independence movement headed up by Carles Puigdemont held a referendum, which was savagely put down by Spanish police after it was deemed to be illegal by the government. Despite the crackdown, voters still turned out in force and a majority of those who had their say voted in favor of independence.
The Spanish Prime Minister Mariano Rajoy subsequently sacked the Catalan government and imposed direct rule, later calling for an election on December 21st, however the vote today could deepen tensions across Spain and is unlikely to resolve the issue.
The vote is expected to be very close. A high turnout is expected and the region is divided on the issue. The outcome may create more volatility in Spanish stock markets and the Euro, which looked stronger against the Dollar and fairly flat against the Pound when voting was in full swing in the morning. A victory for anti-independence parties would raise hopes for a recovery in Spanish stocks next year, as they have under-performed other EU markets in 2017.