Political crisis takes its toll on Catalonia’s economy
Some major companies are relocating their headquarters from Spain's Catalonia region as the political crisis continues following the regional government's referendum on independence from Spain earlier this month.
People raise arms and shout during a demonstration two days after the banned independence referendum in Barcelona, Spain, October 3, 2017. (Reuters)
The Spanish province of Catalonia, which provides 19 percent of Spain’s gross domestic product, is expected to declare some form of independence, despite vehement opposition from the Spanish government.
Political tensions are already high, but the regional government in Catalonia is also facing financial as well as political hurdles.
As TRT World’s Francis Collings reports from Barcelona, the economic fallout is already taking effect as some major companies relocate out of the region.
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