Catalan declaration of independence
The Catalan declaration of independence (; ) was a resolution that was passed by the Parliament of Catalonia on 27 October 2017, which declared the independence of Catalonia from Spain and the founding of an independent Catalan Republic. The Act was immediately suspended by the Parliament. The declaration did not receive recognition from the international community. The declaration and proceeding vote were declared illegal as it was done on a simple majority and not the two-thirds requirement of the Catalan constitution.
Reactions to the Catalan independence referendum, 2017
Spokesman for the European People’s Party which is the largest group inside the European Parliament, said: "Someone needs to tell the Catalan people the truth. If you contest the law to abandon Spain you also need to know that you abandon the EU."Moody's Investors Service has warned that the increased tensions over Catalonia's push for independence could hurt the country's overall debt worthiness. The agency said the "ratcheting-up of tensions has negative credit implications" that could be worsened if Catalonia's regional government declares independence after claiming victory in the referendum. It added that the probability of Catalan independence remains low, mainly because it remains unclear that a majority of Catalans actually want independence. It expects the sides to negotiate a deal for greater powers for the region. The agency further noted that Catalonia represents about a fifth of Spain's economy, with a high per capita GDP, so independence could seriously affect Spain's public finances.