Charles Stanley's Redwood: Spain's troubles will not derail eurozone growth

90% of Catalans voted for independence

Political risk stalks the eurozone. The imposition of budget rules from the centre makes domestic politics in many of the bloc's countries difficult, writes John Redwood, chief global strategist at Charles Stanley.

Many of them have proportional systems which make majority governments a bit less likely anyway.  The unpopularity of austerity policies to comply with eurozone budget rules has contributed to the decline of the two traditional parties of centre left and centre right, which used in most places to alternate in office. At its most marked in Greece, Spain too has suffered in recent years from a bad case of this political malady. Latest Italian opinion polls show the same trend.  Euro falls after violence erupts in Spain after Cataln independence vote For five years running, the Spa...