Catalonia’s economic impact small?

The economic costs of the ongoing political situation in Catalonia are not yet known, but there are early signs that the region’s political instability is likely to have a significant impact on economic growth.

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Six out of seven companies of Spain’s Ibex 35 stock market index companies based in the region have already declared that they are moving their bases due to the secessionist challenge. Sabadell and CaixaBank are the two most significant banks to have relocated along with 20 small and medium-sized businesses. These firms have all cited the need to be in the European Union as a reason for...