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Flashcards in The State Deck (62)
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61

CASE STUDY: Catalonia — what are the effects of uncertainty about Catalonia’s independence?

uncertainty created by the struggle for independence has already hit the Catalan economy

more than 3100 companies have moved their legal headquarters out of the region, including major banks such as Caixabank and Banco de Sabadell

62

CASE STUDY: Catalonia — what are other options for Catalonia if it cannot become a member of the EU?

Catalonia could settle for single market membership without joining the EU, meaning they’d pay for access and continue to accept free movement of EU citizens across the region’s borders

there is uncertainty about whether Catalonia could use the euro without joining the Eurozone — some countries such as San Marino and Vatican City do so since they’re too small to ever become EU member states

others, such as Kosovo and Montenegro, use the euro without the EU’s blessing and so do not have access to the European Central Bank