Do you ever wonder why are Barcelona and Real Madrid such fierce sporting rivals? Football matches between these two rich clubs of the Spanish League are known as El-Classico. Among big names in the ranks at the moment includes Cristiano Ronaldo, Gareth Bale, Sergio Ramos and Karim Benzema from Madrid’s side while Lionel Messi, Luis Suarez, Gerard Pique and Andres Iniesta from Catalan’s side.

ElClassico

Referendum for A Declaration of Independence from Spain

Catalan President Carles Puigdemont and other regional leaders have signed a declaration of independence from Spain, following the disputed referendum. However, they say the move will not be implemented for several weeks to allow talks with the government in Madrid. The document calls for Catalonia to be recognised as an “independent and sovereign state”.

A 1 October referendum in the north-eastern province – which Catalan leaders say resulted in a Yes vote for independence – was declared invalid by Spain’s Constitutional Court.

The referendum resulted in almost 90% of voters backing independence, Catalan officials say. But anti-independence voters largely boycotted the ballot – which had a reported turnout of 43% – and there were several reports of irregularities. – BBC

Consequences of Spain-Catalonia Split

If the Spanish region of Catalonia breaks away from Spain in a so-called Catalexit, it would plunge the region into a long period of uncertainty and could end up having negative effects that “proportionally exceed” those of Brexit, according to the Dutch bank ING.

“It remains difficult to evaluate the consequences of such an unprecedented event, but in the long run we can imagine that the economic cost for Catalonia could proportionally exceed that of Brexit for the UK.” – Business Insider

The short-term outcomes of separation would be negative for both parties, according to Alain Cuenca, an economics professor at the University of Zaragoza in Spain.

“The establishment of a border would result in a loss of jobs, income, and wealth for everybody, whether they live in Catalonia or in the rest of Spain. Those losses would be provoked by the obstacles to trade, by financial problems, by the spending needs of the new state.” Cuenca told. – CNBC

The possible Catalexit will also impact Barcelona FC as one of the biggest clubs in the world, which would no longer be allowed to compete in La Liga, the competition it helped to found back in 1929.

La Liga President Javier Tebas contends that exclusion from La Liga would undoubtedly see Barcelona slip from the top table of European football, citing the lucrative television rights deal as one area that would be different. It would also mean an end to the traditional El-Clasico against Real Madrid. – The Goal.

However, The Spanish government has suggested it is prepared to invoke article 155 of the country’s constitution and suspend Catalan autonomy in response to a declaration of independence.

“Applying article 155 would annul a declaration of independence in the same sense that the Constitutional Court annulled the calling of a referendum. By that, I mean that decisions on paper have to be executed in practice afterward. And it’s not clear that the Spanish state has the capacity to effectively suspend autonomy and block the Catalan government from continuing to operate.”

Regardless of what happens in Spain over the coming days then, it looks like the conflict is destined to drag on further. – The Local

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Here is the story of why Catalonia wants independence from Spain.

Video credit to Spooksanddooks

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