The shit in Spain falls mainly in the fan

[celedhring]

You know what I miss? A week where NOTHING happens. This has been a fucking roller coaster for two months already, and it's going to stay that way until January at the very least (unless unionists win a decisive victory in December, but it's going to be another 50/50, like it's been since forever).

[Habbaku]

Time to invest in Catalonian companies at cut-rate prices, then. 

[CountDeMoney]

You know what I miss? A week where NOTHING happens. This has been a fucking roller coaster for two months already, and it's going to stay that way until January at the very least (unless unionists win a decisive victory in December, but it's going to be another 50/50, like it's been since forever).

You're a very emotional people, you know.

[Iormlund]

Oh, 6 out of the 7 largest companies headquartered in Barcelona have already made the switch. And hundreds of smaller ones.

Celed, Grifols moved their financial center to Ireland after the first referendum. While they are still technically headquartered in Barcelona, their money is not there anymore.

[celedhring]

Tomorrow begin the preliminary hearings for the members of the Catalan government and Parliament that stand accused of rebellion (20 in total). It's more or less confirmed that Puigdemont will remain in Belgium and become a fugitive, others might join him, while a few have confirmed that they will show up at the hearings. A couple of the councilors that fled with Puigdemont to Brussels were seen arriving at Barcelona yesterday, which everybody assumes means they will show up.

Given the flight risk, it s very likely that the judge will concede preventive imprisonment for nearly all of them (looks like the councilor that quit the government before the UDI will be spared). This will heat up things again, considerably, but I really can't see how the judge can refuse a jail order at this point if the prosecution asks for it.

[celedhring]

The deposed Catalan cabinet ends up in preventive jail (barring the councilor that quit on the eve of the UDI). The members of the Bureau of the Catalan Parliament had their hearing adjourned and allowed to return home, but under police surveillance.

An European arrest order has been issued shortly for those that didn't show up today.

Things will heat up in the following days. There's already crowds in Barcelona. I wish it could've been avoided - I honestly do - but I just can't see how they could have avoided jail with all the stuff in their platter, particularly after 5 of them fled to Belgium.

[Josquius]

I spoke to a Catalan guy about this yesterday.
He says the UDI law was voted on but not actually formally signed off and passed, so technically they should get off the treason conviction, though they still have the vote in their back pocket?

[Grey Fox]

are they just moving headquarters or are they pulling out production and jobs too?

Just HQs. Moving the actual production isn't something that you do in such short notice, and probably won't happen unless independence becomes a real possiblity. But investment freeze is another matter, and it's happening.

Is it likely they'll either be able to switch back or start switching back if the separatism movement collapses in the next weeks?

Some probably will. But others won't. We will emerge of this with noticeable economic damage, no two ways about it. We've become an unreliable destination for investment

It's okay, you will survive. There is always someone else willing to invest money.

[celedhring]

I spoke to a Catalan guy about this yesterday.
He says the UDI law was voted on but not actually formally signed off and passed, so technically they should get off the treason conviction, though they still have the vote in their back pocket?

It's beyond my understanding, but most neutral lawyery types believe that rebellion will end up being downgraded to sedition or conspiracy for rebellion.

[celedhring]

I was wrong about the arrest order for the Belgium lot. The judge hasn't ruled on that yet. Tomorrow.

[Valmy]

I spoke to a Catalan guy about this yesterday.
He says the UDI law was voted on but not actually formally signed off and passed, so technically they should get off the treason conviction, though they still have the vote in their back pocket?

It's beyond my understanding, but most neutral lawyery types believe that rebellion will end up being downgraded to sedition or conspiracy for rebellion.

This is why lawyers always end up running revolutions.

[celedhring]

Catalonia leads job losses in Spain for the month of October. Oh joy. October is usually a bad month for employment given the end of the tourist season, but it's been worse than in recent years.

Just did some napkin math:

Catalonia's job loss jumped +120% versus the one experienced in October 2016.

Spain job loss jumped +24% vs the one in October 2016. If you take Catalonia out of the picture, it's a mere +8%

[Grey Fox]

Relax. Things will be fine.

[celedhring]

I've been hyperventilating for the past 6 weeks.

[The Larch]

I've been hyperventilating for the past 6 weeks.

To the point that it has almost become a meme.