Spain’s economy minister says it’s ‘very clear’ this won’t happen

Luis de Guindos, Spain’s economy minister, threw cold water on the possibility of Catalonia gaining independence and said citizens need not worry about having their deposits in banks Catalans.

“It is very clear that independence for Catalonia will not happen,” he told CNBC on Monday.

“It is illegal, irrational, harmful to the Catalan economy. We have seen the decisions taken by many companies.”

His words come after a selection of high-profile Spanish companies expressed concerns over recent tensions, with some opting to move their headquarters out of the region. De Guindos said the announcements send a very clear message to politicians in Catalonia’s regional government.

He added that despite the uncertainty created by the crisis in Catalonia, Spain will continue to grow.

De Guindos spoke as eurozone finance ministers arrived for a regular Eurogroup meeting in Luxembourg. Continued political instability in Spain is raising eyebrows across the euro zone and will likely be a hot topic for finance ministers.

Earlier in the day, Ricardo Mourinho Felix, Portugal’s secretary of state in the finance ministry, told CNBC that the Catalonia crisis should be of concern to all of the 19 nations that share the single currency.

“It’s not just a problem for Portugal, it’s a problem for the euro zone and Europe as a whole,” he said in Luxembourg.

“We are also concerned about the situation as dedicated Europeans who believe in the European project and it is very important to have a close follow-up,” he added.

Back in Luxembourg, some eurozone finance ministers described the Catalan crisis as a “domestic” problem.

Johan Van Overtveldt, Belgium’s federal finance minister, told CNBC: “It’s up to Spain to take care of this internally and everyone should show mutual respect.”

Meanwhile, Eurogroup President Jeroen Dijsselbloem also said he considered it a national problem. “You may not agree with that, but that’s my position,” he said.