Catalonia will move as soon as this weekend to declare independence from Spain, the region’s leader said, moving the European Union country closer to a rupture that threatens the foundations of its young democracy. Catalonia’s Caixabank (CABK.MC) and Spain’s economy minister have meanwhile sought to assure bank customers that their deposits are secure. Spain has been rocked by the Catalan vote and the Spanish police response to it, which saw batons and rubber bullets used to prevent people voting. “Catalan banks are Spanish banks and European banks are solid and their clients have nothing to fear,” he said on the sidelines of a conference in Madrid. Opinion polls conducted before the vote suggested a minority of around 40 percent of residents in the region backed independence.

Source: Egypt Independent October 04, 2017 11:15 UTC