Oct 22, 2017 | Post by: Roman Chuyan, CFA Comments Off on Independence Sentiment Is Rising In Europe

Independence Sentiment Is Rising In Europe

Two years ago Britons expressed their will to exit the EU. Today, it's Catalonia, Poland and the Czech Republic.

Spanish province of Catalonia held independence referendum last month. Despite the police brutality against the referendum supporters, 90% of those who voted supported independence, according to unofficial figures. Mariano Rajoy's government declared the vote illegal, and announced that he will dismiss Catalan President Carles Puigdemont as part of clampdown on independence movement. In response, independence supporters flooded the center of Barcelona this weekend, and Puigdemont announced that the regional parliament will discuss a possible independence declaration.

The anti-establishment party of billionaire Andrej Babis just won a landslide 30% majority in the Czech Republic's parliament. Its platform included running the state like a business, fighting Muslim immigration and opposing deeper integration with the European Union. The euro-skeptic Civic Democrats finished second with 11%, followed by two other anti-establishment parties. Social Democrats who lead the outgoing government suffered a crushing defeat.


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