Wednesday, 12 September 2012

Spain's Economic Nightmare Has Gotten So Bad That Catalonia Wants To Secede

Spain's Economic Nightmare Has Gotten So Bad That Catalonia Wants To Secede

What started out as a celebration that marked marking Catalonia's "National Day" turned into one of the biggest gatherings the city has ever seen.

 

Over a million Catalonians descended upon Barcelona yesterday, protesting current economic conditions, tax policies, and what they see as an unequal distribution of wealth.

Their solution?

"Catalonia: a new European state"

Catalonians have long viewed themselves as culturally distinct from the rest of Spain. They have their own history, traditions, and a distinct language native to their region. But now, the economic climate has driven a huge amount of people to favor full independence.

And even though Catalonia needed a €5 billion bailout package from Madrid last month, it still transfers up to 9 percent of its GDP to Madrid annually.

Source : http://www.businessinsider.com/catalonia-an-independent-state-2012-9#ixzz26GwK0bOB

http://www.investorseurope.com

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