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General

Telefonica warns of dangers of Catalan independence

Tuesday 22 September 2015 | 09:48 CET | News
Telefonica chairman Cesar Alierta has warned Catalan businessmen of the negative effects of Catalan independence on the region's economy and businesses. "In all separation processes the flow of trade declines by 25 percent and if the trade flow decreases, unemployment increases, and if unemployment increases, revenues fall and pensions and social spending need to be lowered," he told reporters at an event in Madrid. The Catalonian regional government (Generalitat) has pledged to negotiate secession with the central government if the pro-independence Junts pel Si (Together for Yes) coalition

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Categories: General
Companies: Telefonica
Countries: Spain
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