Markets are still complacent.
The Central Government blinks.
Political Expedience, Economic Madness.
Socialist mayor to fulfill campaign promises by printing money.
Conflict with Spain Gets More Dangerous
Desperately needed international investors dread it.
But bluffs can backfire.
An extremely high-stakes game of political poker, not just for Catalonia and Spain but for Europe.
The economic consequences are already being felt.
And now that the wrecking ball is in motion…