There has also been a notable deterioration in the of business confidence indicator, as well as in the flows of foreign tourists.

Creating political instability, legal uncertainty and economic uncertainty does not usually come free of charge.

The Catalonian crisis will not be resolved immediately, but Spain and democracy would be stricken if it were to become chronic and permanent.

In this situation of political instability happening in Catalonia, the Círculo has been trying to alleviate the situation.

With only the law and with justice, the sovereign challenge of the Catalonian separatists will not be held in check.

Different business associations have warned of the of secessionist drift's serious consequences in the trade, tourism, hotels, car sales or the real estate sectors.

What is important is to maintain political and institutional serenity that avoids situations that might lead to boycotts.

Let us think of the risks to a growth that is based on ignoring high debt and financial bubbles.

Interview with Gloria Guevara, president of the World Travel and Tourism Council (WTTC).

"The Montreal effect was that around 400,000 people left Quebec, mainly young people, from the financial sector".

There were good reasons to think that Catalonia could not be constituted as an independent state in the form of a republic.

Neither is the Catalonian secessionist attempt the only major problem in Spain, nor the interests behind this attempt are exclusive to Catalonia.

In the quite unlikely case of a total rupture between Catalonia and the rest of Spain, the consequences for the economy would undoubtedly be catastrophic throughout the country.

Interview with Pere Chias, president of the Catering Guild of Barcelona.

The political crisis in Catalonia has precipitated one of the most critical moments in the recent democratic period of our country.

The exit of companies from Catalonia since the 1st October is giving rise to much confusion about what are the effects of changes.

The flight of companies as a result of the independence adventure of Catalonian nationalism, has been for Barcelona a "treacherous backstabbing".

These companies include six out of the seven Catalonian Ibex-35-listed companies: Banco Sabadell, Gas Natural Fenosa, CaixaBank, Abertis, Cellnex and Colonial.

These last two months have no precedent on which to reflect in many ways, whether political, social or economic.

Since the end of last September, FETAVE launched the first alarm on the negative impact of the independence crisis on tourism in Catalonia.