Spanish spanners

The latest spanner in the works of the Spanish sovereign debt crisis is Catalonia's plan to hold a secession referendum. Myles Bradshaw, portfolio manager at Pimco, expects a compromise along a rocky road. Other concerns include the banking system, and Spain's delay in applying for a eurozone bailout. Mr Bradshaw explains to Long View columnist John Authers that this really needs to be done by the end of October to allay further market nervousness.