(9 Oct 2017) A senior Spanish financial analyst on Monday described independence for Catalonia as economic "suicide."
Jose Luis Feito, President of the Institute of Economic Studies, said an independent Catalonia would be outside the European Union and the common currency.
"It would be impossible for any company, particularly for any bank, to live a single day under these circumstances," he told the The Associated Press.
Last week Spanish markets sank as the country grappled with its most serious national crisis in decades.
Then the most important Spanish stock market closed in negative under 10,000 points, the biggest fall since Brexit.
This fall was led by losses for the two main Catalan banks, CaixaBank and Sabadell, who announced they were relocating their headquarters to other parts of Spain because of financial uncertainty if there is an independence declaration.
Other companies are reportedly considering leaving Catalonia to avoid being cast out of the EU and its common market in the case of secession.
Catalan regional President Carles Puigdemont plans to address the Catalan parliament on Tuesday evening in a session that some have portrayed as the staging of an independence declaration for the northeastern region of 7.5 million.
Others have said the move would only be symbolic.
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