Spain In Financial Meltdown Over Catalonia 'Independence'
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She revealed hotel reservations had also plunged by up to 30 per cent as the crisis bit into the nation’s finances.
Speaking after a weekly cabinet meeting, she said: ”The events that we are experiencing in Catalonia make us more prudent.
"In fact, if there were no quick solution to this issue we should be forced to lower expectations of economic growth for the year 2018.”
The government expects Spain's economy to grow by just 2.6 per cent in 2018.
Ms de Santamaría said there was no “quick solution” to the crisis and this would have to be lowered.
She insisted: "The Generalitat is creating all the conditions to plunge Catalonia into a deep recession, as experts have warned.”
The wealthy region's intention to break away after a referendum has plunged Spain into its worst political crisis since an attempted military coup in 1981.
The Catalan Leader, Mr. Carles Puigdemont has come under pressure from one of his key allies to declare full independence and ignore a threat of direct rule from the Spanish government.
The Spain's Prime Minister, Mr. Mariano Rajoy has given him until Monday to clarify his position - and then until Thursday to change his mind if he insists on a split - threatening to suspend Catalonia's autonomy if he chooses independence.
Today’s dramatic financial warning came amid reports Spaniards were boycotting Catalan products, with sales of some dropping by up to 70 per cent.
Banco Sabadell, the country’s fourth largest bank, has already announced it would move out of the region over fears for its future.
Compiled by: Rostrum
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