Spain and Catalonia risk ‘Pyrrhic victories’ over debt decisions

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Spain and Catalonia risk ‘Pyrrhic victories’ over debt decisions

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Voters shout 'we want to vote' in front of riot police. People have begun to vote on the referendum of Catalonia when state and riot police intervened brutally to end the vote and take away the urns from the voters. Barcelona. Spain. October 1st 2017. (Photo by Alain Pitton/NurPhoto/Sipa USA) | NurPhoto/SIPA USA/PA Images

Spain and Catalonia could be heading for a “Pyrrhic victory on both sides” in terms of their capital markets access, if they fail to reach an agreement on the latter’s status after a disputed independence referendum on Sunday, according to capital markets lawyers.

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