They have their own language, their own flag, and on Sunday, citizens of Catalonia could be paving the way to having their own country. Catalonia is Spain’s wealthiest region. Separatists there say they would be better off cutting ties with Madrid and the rest of Spain and local elections Sunday could put those separatists in power. The BBC reports:
“As Catalonia’s economic crisis has worsened, the regional government has almost run out of money. That has galvanized support for Catalan nationalist parties. The small town of Galifa, near Barcelona , has even decided to send its federal tax money to the regional government instead. It’s purely symbolic since the region will just forward the money on to the federal level but it’s another sign that Catalonians think they are ready to go it alone.
According to financial services group Credit Suisse, Catalonia on its own would be comparable in GDP per capita to the average European Union nation . But Spain, having lost its richest region, would drop to the likes of Greece and Portugal.
Sounds like independence would work out well for Catalonia, but the Washington Post says that doesn’t take all the economic consequences into account. If the region did formally secede, it might have to leave the euro and the EU, at least temporarily… Leaving the euro could cause a lot of economic disruption and Catalonia’s regional government remains highly indebted.
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