The Catalan parliament just declared independence from Spain

Catalonia’s separatist lawmakers burst into applause in Barcelona today after the regional parliament voted 70-10 in favor of creating an independent Republic. Alternatively, MPs opposed to succession walked out of the chamber, the New York Times reports. The vote to leave Spain comes as Madrid is preparing to enact a never-before-used provision in the Spanish constitution that will allow it to take direct control of the autonomous region.

Mariano Rajoy, the Spanish prime minister, sent out a tweet immediately following the vote and asked for calm.

Pido tranquilidad a todos los españoles. El Estado de Derecho restaurará la legalidad en Cataluña. MR

— Mariano Rajoy Brey (@marianorajoy) October 27, 2017

Per the Financial Times, Spanish stocks fell 1.9% following the vote, with Catalan banks hit especially hard.

The moment the Catalan parliament votes to declare independence from Spain https://t.co/SsFrYwEEtkpic.twitter.com/MFAr93UDau

— BBC Breaking News (@BBCBreaking) October 27, 2017

Our Jesus Diaz wrote in an op-ed earlier this month about how Catalonia’s secessionist movement mirrors Brexit, and how it is jeopardizing Barcelona’s innovative startup scene.