Parliament in Catalonia votes to succeed from Spain

Parliamentarians in Spain voted to succeed from Spain. Opposition parties walked out of the session and boycotted the vote but supporters only needed 68 votes for a majority.

In Madrid, the central government attempted to suspend Catalan parliament.

70 votes for independence, 10 votes against, 2 abstentions.

Parliament broke into song after the votes were read. Spain's IBEX was down 1.3% before the vote and fell to a session low, down 3% after the vote.

The resolution sets in motion the creation of a new republic. It said "we constitute the Catalan Republic, as an independent and sovereign country, under the rule of law," it said. It asked all nations to recognize the Republic.

What happens next is unclear but Rajoy tweeted that the state will reestablish legality in Catalonia.