Tricky question

1 October 2013 By Fiona Maharg-Bravo

Catalan independence has become a hot political topic in Madrid, yet investors are ignoring the region’s threat. They bet that reason will prevail over parochialism, considering the hurdles to full-blown independence. For now Spain’s fragile recovery is a more pressing concern.

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Artur Mas, the Catalan president, reiterated his government’s support for a referendum on the region’s future in 2014. In a debate in the Catalan parliament on Sept. 25, Mas said he wants the central government’s backing, but is ready to explore all the legal mechanisms to do the consultation.
In an interview with the Wall Street Journal on Sept. 23, Spanish Prime Minister Mariano Rajoy appealed to Catalonia to stick with Spain. In a letter to Mas earlier this month, Rajoy offered to hold talks with Catalonia, but gave no indication he would allow the region to vote on independence.

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