Catalonia to formally declare independence if Spain suspends regional autonomy - Reuters

Citing a government source, "Catalonia’s regional president told a meeting of his party he would formally declare independence if Spain starts the process of suspending the region’s autonomy on Thursday," Reuters said in a recent article.

Key quotes (via Reuters):

• Madrid has given Thursday as a deadline for the regional government to back down from a symbolic independence declaration made last week, or face direct rule from the capital.
• If Prime Minister Mariano Rajoy moves to apply direct rule on Thursday, it will take between three and five days for regional autonomy to be effectively suspended.