Mark Gilbert , Columnist

Catalonia Cries "Freedom!" Market Says "Not So Fast..."

A referendum's coming, but Spanish bond yields are a picture of calm.

September 7, 2017 at 9:27 AM UTC

Mark Gilbert is a Bloomberg Opinion columnist covering asset management. A former London bureau chief for Bloomberg News, he is author of “Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable.”

1504778665_GettyImages-455262678 — Photographer: David Ramos/Getty Images

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Catalan President Carles Puigdemont says he's willing to go to jail in the fight to achieve independence from the rest of Spain. His region's creditors are unconvinced he'll succeed.

Catalonia's regional assembly on Wednesday voted to hold a referendum on Oct. 1. Spanish Prime Minister Mariano Rajoy, who says the vote is illegal, says he may prosecute separatist leaders, and will ask the Constitutional Court to invalidate the plebiscite.