Bank of Spain Governor: Catalonia’s independence would bring “bankruptcy”
The President of the Catalan Government, Artur Mas, replied that “nobody believes” in the “apocalyptic” message sent by the Governor of the Bank of Spain, who was appointed by the current Spanish Government in 2012. Mas asked Luís María Linde for “caution” and “to serve the whole of Spain and do not take sides”. Linde stated in Madrid that “independence is unviable”. He argued that the European Central Bank only funds Member States and thus Catalonia would be “obliged to issue its own currency” and have “its own banking supervisor”. On the same day, the Spanish Finance Minister, Cristóbal Montoro, said that if Catalonia were independent it would have “to abandon the Euro” and this could even lead to putting the entire Eurozone at risk. However, in September the European Commission confirmed that an independent Catalonia could continue to use the Euro in different scenarios.