PM Rajoy asks Spanish senate to support proposal on Article 155

PM Rajoy currently addressing parliament 27 Oct

  • situation is exceptional
  • referendum in Catalonia was illegal
  • Catalan govt’s illegal actions hurt economy
  • ntg substantial happened since govt approved 155

Rajoy is widely expected to get the approval of opposition parties on this to push it through.
Also just out:

  • Catalans propose elections instead of declaring independence
  • Catalans want Madrid to suspend 155, help free jailed activists
  • Catalans said to send emissary to Madrid to plead for a deal
  • ready to pull back if they get concessions from Madrid

Stand by today for further headlines on this.
IBEX down to session lows and -0.5% as the drama plays out.
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