What Impact Would Catalonian Independence Have?

A split between Spain and Catalonia would cause a major political shake-up in the country but would also have significant consequences for the economy of both sides, experts have told CNBC.Voters in the prosperous Spanish region are set to be asked next month to choose if they want to secede from Spain following a decree signed on September 7. “Catalonia belongs to this world that looks forward, and that’s why it will decide its own future on the 1st of October,” Carles Puigdemont, the president of the Catalonia region, said defiantly earlier this month.Pro-independence lawmakers hope the northeastern region will gain complete political and economic autonomy from Spain despite the referendum putting Catalonia in open defiance of central authorities in Madrid. Spanish police are reported to have raided several departments of Catalonia’s regional government this week as tensions rise over the banned independence referendum.

Source: Spain-Catalonia split: Here’s how bad economically it could really be

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.