Arab Today, arab today spain central bank warns against catalan independence
Last Updated : GMT 16:01:31
Arab Today, arab today
Arab Today, arab today

Spain central bank warns against Catalan independence

Arab Today, arab today

Arab Today, arab today Spain central bank warns against Catalan independence

Bank of Spain governor Luis Linde said Catalonia would drop out of the eurozone
Madrid - AFP

Spain's central bank Monday warned of financial risks from the Catalonia region's potential secession from Spain, days ahead of an election there framed as an indirect vote on independence.

Bank of Spain governor Luis Linde said Catalonia would drop out of the eurozone if it broke away from Spain and would lose access to credit from the European Central Bank.

He followed European leaders, businesses and big commercial banks in warning of the financial risks of secession for the rich but heavily indebted northeastern region.

Nationalist leaders in Catalonia have vowed to declare independence within 18 months if they win the vote on September 27.

"Leaving the European Union means automatically leaving the eurozone," so banks in Catalonia would "stop having access to the ECB's facilities", he told reporters.

He said there was a risk, albeit a "highly unlikely" one, that Catalonia would end up having to impose banking restrictions as Greece did in June at the height of its debt crisis.

The latest opinion polls show separatist parties could win a majority in the Catalan regional parliament on September 27.

The independence drive has intensified over the recent years of economic crisis. Catalans complain about how much of their tax money is redistributed to the rest of Spain.

Their vows to secede have posed a tough political challenge to the conservative central Spanish government. It is looking to strengthen Spain's economic recovery and preparing to fight a general election in December.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain central bank warns against catalan independence Arab Today, arab today spain central bank warns against catalan independence

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain central bank warns against catalan independence Arab Today, arab today spain central bank warns against catalan independence

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday