Formation of pro-independence government in Catalonia - UOB

FXStreet (Guatemala) - Analysts at UOB Group explained that after more than three months of impasse, at the last moment the Catalan pro-independence parties have agreed to form a government.

Key Quotes:

"There will be a functioning local government with an absolute majority of the seats in the Catalan Parliament. Expectations are for the new Catalan government to carry on with the unilateral independence pledge with a 15- 20 month timeframe.

The last-minute formation of a pro-independence government in Catalonia increases the pressure to form a government at national level. Today, we will be receiving business sentiment data in France and housing data in Spain."