FXStreet (Delhi) – Research Team at Deutsche Bank, notes that there is a news of the formation of a government in Catalonia. Key Quotes “In an emergency session late last night and following the decision of former incumbent Artur Mas to stand aside, Carles Puigdemont (of Junts pel Si) was elected as the new President. Speaking after his appointment and in relation to the region’s quest for independence, Puigdemont said ‘though the candidate that presents it isn’t the same, the program is’. According to the WSJ, Puigdemont is said to be committed to achieving independence for Catalonia within 18 months. This of course raises the question of what the situation and reaction in Madrid will be, with much of the commentary suggesting that the formation of the government in Catalonia could help an acceleration of negotiations in Madrid and so the formation of a new national government. Clearly this will highlight the need for a uniformed coalition however.” For more information, read our latest forex news.