Independence seems to be both great and terrible. It is great because independence is the highest form of freedom, but it is terrible because it is hard to gain it and it sometimes leads to adverse consequences. Spain, being an EU member, has supported various nations in standing for their self-determination. Now, the country faced a fight for independence within its own territory.
Residents of Catalonia, Spain’s richest region, decided that they are done with “feeding the capital” and carried out a referendum. However, the Constitutional Court of Spain declared the referendum illegal and the Guardia Civil attempted to halt it. The police fired rubber bullets at the crowd. Such an event was not left unnoticed and had a comprehensive response. The situation impacted the forex market as well, with the euro starting to sink instantly after the Catalan vote. Analysts say that the single European currency is very likely to extend its downside on the back of the region’s statements.
