Following violent crackdowns by the Spanish government against the referendum, Catalonia is moving closer to a declaration of independence. Spanish officials are now trying to increase economic pressure on the wealthy region.
Officials now say the Spanish government will be issuing a new “decree” on Friday which will lift legal restrictions on relocating corporations’ headquarters from Catalonia to other parts of Spain, effectively encouraging companies to withdraw from the area.
Major Spanish banking company Banco Sabadell has announced its intention to withdraw from Catalonia and relocate to Alicante. Spain’s Economy Minister says “uncertainty” about Catalonia is paralyzing regional investment.
Spain’s response to this “uncertainty” appears to be to try to make things even worse for Catalonia, in the hopes of punishing the region for its separatist ambitions. Effectively, Catalonia is facing economic warfare from the Spanish government.