Political Woes Still Weigh On Europe

On Thursday, Greece's Parliament passed the austerity measures required by the nation's creditors in order to secure the Athens' much needed bailout funding.

European markets breathed a sigh of relief as the nation looked likely to remain in the eurozone and avoid a financial collapse. However, the bloc is likely to continue struggling in the coming months as political turmoil threatens to upend what most lawmakers were hoping would be smooth sailing ahead.

Greek Protests

Angry Greeks gathered in front of parliament on Wednesday night, throwing gasoline bombs and protesting against the newly agreed to austerity terms. Prime Minister Alexis Tsipras was elected on his promises to end Greece's cutbacks, so the new agreement has angered his supporters.

See Also: Greeks Vote 'Yes' To Third Bailout, But Many Opponents Remain

Many of Tsipras' top cabinet members voted against the measures, including the nation's former finance minister Yanis Varoufakis. The vote brought to light the division that has begun to form within the Syriza party, and led many to believe that Tsipras could be forced to call for new elections.

Catalan Independence

With the issues in Greece dying down, European lawmakers will have to turn their attention to Spain, where Catalonia's independence movement is gaining momentum. Although Spanish Prime Minister Mariano Rajoy has deemed a Catalonian succession unconstitutional, supporters of the region's independence are joining together in order to form a powerful political force.

The Democratic Convergence party and the Republican Left of Catalonia announced plans this week to unite in support of the region's independence. In Catalonia's September 27 elections, the two parties are backing a unified group of candidates. If they are victorious, their candidates have promised to create an independent Catalan state within months of the vote.