The Catalan events, however, merely confirm that today, Western European countries are secession-proof -- too fat to fail. In the Catalan independence scenario, the issue of splitting up Spain's debt, which stands at 99% GDP, would also be a major issue. But few have considered the effect on Barcelona, a rich and vibrant international city of major importance to both Catalonia and Spain. Even Vladimir Putin's capital city looks like a safe haven compared with a Barcelona faced with Catalan secession. The recognition, and rejection, of the economic cost is the biggest reason why the independence movements in Catalonia, Belgium and Scotland are non-violent.

Source: Bangkok Post November 02, 2017 21:45 UTC