The price of independence

[Tietar]

just remember that Catalan companies have their business and their income in Spain, not in Catalonia, not in foreign countries, in Spain. And independence means not depending on the income and funding provided by Spain and Europe. In case of independence you will have to create your own currency and suffer a brutal devaluation and capital flight. Nobody will lend you money. but the consequences of independence have already begun


S&P threatens to lower Catalonia's rating to the level of underdeveloped countries

Standard & Poor's solvency rating agency threatens to downgrade the rating from Catalonia to B, which means sinking it further into the junk bond and placing it at the level of countries like Zambia, Cambodia, Jamaica, Rwanda or Cameroon. In an official statement, S & P announces that it places the current rating of the Generalitat debt, located in B +, in "negative perspective" and that it can lower it one or two steps if the current "political confrontation"

https://www.elplural.com/economia/20...bdesarrollados


Banco Sabadell to move headquarters to Alicante due to uncertainty in Catalonia
Catalonia’s second biggest bank, Banco Sabadell is to move its registered office to Alicante. The board of directors has confirmed the move today, Thursday, in order to curb the hit that it was suffering in the markets.

During the course of the week the share price `plummeted by almost 10% although it began to recover on Thursday afternoon following the decision to relocate.

The decision on Thursday by Banco de Sabadell to move its headquarters to Alicante came at the same time that CaixaBank, the biggest bank in the region and the country’s third largest, also considered domiciling outside Catalonia.

http://www.theleader.info/2017/10/05...nty-catalonia/


Catalana Occidente plans to take its headquarters outside Catalonia

The insurer Catalana Occidente plans to change its headquarters which is currently in the Barcelona city of Sant Cugat in view of the situation that crosses Catalonia.

The entity states that it has an international dimension, which is present in more than 50 countries and has more than 150 years of history. "We have lived through diverse and complex situations throughout our career. We will be very attentive to all events and depending on how the events unfold, we will take agile decisions that are appropriate, to preserve the interests of our customers, workers, mediators and shareholders, "he says.

http://www.expansion.com/empresas/20...23c8b463b.html


Spain to Make It Easier for Firms to Move Base From Catalonia as Business Alarm Deepens

MADRID — Spain's government will issue a decree on Friday making it easier for firms to transfer their legal base out of Catalonia, two sources said, in a move that could deal a serious blow to the region's finances as it considers declaring independence.

The decree is tailor-made for Spanish lender Caixabank, sources familiar with the matter said, as it would make it possible for the bank to transfer its legal and tax base to another location without having to hold a shareholders' meeting as stated in its statutes.

"The government is working on changing the law so that it's no longer need to have a shareholders' meeting, which would delay a change of the legal base in a case of emergency," one of the sources said.

https://www.nytimes.com/reuters/2017...-business.html

[Tietar]

Cobega

Historical Coca Cola bottling plant. It has recently been transformed into a holding company consisting of companies such as Daba, Cacaolat and Domino's franchise in Portugal, Austria, Hungary, Czech Republic and Slovakia.

Oryzon Genomics

The biopharmaceutical announced its departure to Madrid after suffering great falls in the Stock Exchange and to facilitate its "relation with the investors". After confirming his transfer, his actions rose like foam. On Wednesday they rose 20% and on Thursday more than 10%.

Eurona

Telecommunications operator Eurona has announced that it will move its headquarters from Barcelona to Rivas-Vaciamadrid (Madrid). It is a company with 280 employees and a capital of more than 51 million euros.

Proclinic Expert

The company was based in Hospitalet de Llobregat. It is a company that bills around 100 million annually. It has moved its headquarters to Zaragoza.

Naturhouse

Félix Revuelta, president of Naturhouse, decided to move the headquarters of the company from Barcelona to Madrid.

"We have already moved the headquarters to Madrid, we have left Barcelona, we are still with some paperwork. We decided to change the headquarters of the company for two fundamental reasons. First, the legal security of your environment, and in Catalonia right now is very negative. In addition there is a social gap, a confrontation in the population and the coexistence is complicated, "he told Radio Intereconomía.

https://casoaislado.com/lista-empres...dependentismo/

Citroën opts for Valencia against Barcelona to export their cars made in Zaragoza

Formally, the plant confirms that it will operate three weekly trains from its factory in Zaragoza to the port of Valencia. This decision has been taken after the elimination of several "bottlenecks" of the rail line Valencia-Teruel-Zaragoza that has allowed to increase its operability. However, several port sources point out that, without being a last-minute decision by the incidents occurred in Barcelona, the instability of Catalonia is weighing on major decisions.

In the last two years, Valencia has climbed to become the eighth European port in vehicle traffic. Specifically, during 2016, it channeled 774,708 units, an increase of 12.37% over the previous year. In this way it has been shortening distances with the Catalan enclosure, that leads the ranking of the Spanish Mediterranean in this load.

http://www.lasprovincias.es/economia...0607-ntvo.html


120 companies are ready to leave Catalonia in 24 hours

They have drafted contingency plans that contemplate a change of registered office without the need to reform the bylaws and with the simple approval of the council

The economic world has been warning for some time that the increase in the sovereignty challenge in Catalonia has caused a halt in consumption. This is having an effect on the economy and is associated with the deferral of investments. Several companies based in the region are now also ready for a 24-hour exit.

http://www.elconfidencialdigital.com...009299054.html

[Tietar]

Social networks call for a boycott of Catalan products

This is one of the consequences that has caused the hatred for Spain promoted by the separatist leaders Carles Puigdemont and Oril Junqueras, so the networks call for a boycott of their products.

After the call to the polls in an illegal referendum last Sunday 1 of October and after the persecution of the independentistas to the bodies and security forces of the State the social networks have begun a campaign to boycott the companies that defend this division of Spain .

40% of sales of Catalan products are destined for other communities and another 40% for other community partners. Catalonia is an economy very dependent on the foreign sector. Specifically, Aragón leads the destination ranking of Catalan products, with sales of 10,781.9 million euros per year, followed by France (10,460.4 million euros), Germany (7,736.3 million), Italy ( 5,932.3 million) and the Valencian Community (4,993.9 million). They complete the top ten Portugal, the Community of Madrid, United Kingdom, Andalusia and Baleares. So it would be almost impossible to sustain the Catalan economy without being part of Spain and part of the European Union.

https://intereconomia.com/economia/p...20171003-1813/



Launch an application to boycott Catalan products

Although the call to boycott Catalan products is nothing new, the creation of an application for this purpose is. The SeparApp platform, available for Android devices, indicates the location of any company for the user to decide if he wants to give benefits to companies installed in Catalonia "that can promote independence", says the description of the app. "Independence? Not with my money" is one of the phrases that can be read as soon as you access the platform where you can download this application for free.

Among the comments of the "app", debate among those who consider that SeparaPp incites hatred and those who weigh it for its usefulness. "I have nothing against the Catalans, but I prefer to support other autonomies that are in solidarity with others," comments one of the users.




http://www.lne.es/sociedad/2017/10/0...s/2172578.html

[Tietar]

SEAT is considering moving its headquarters to Madrid if it follows the secessionist order

The change is part of the "contingency plan" developed by the Spanish automobile company, currently based in Martorell (Barcelona)

Apart from financial institutions and insurers, the independence of the Govern also jeopardizes the presence of the headquarters of the largest icon and engine of Catalan industry, SEAT . The company, now part of Volkswagen, has a "contingency plan" prepared for a scenario of continuity of the secessionist order in which it contemplates the transfer of that registered address , currently located in Martorell (Barcelona) , to Madrid , as detailed to ABC sources of the automotive group.

This plan would be activated after a resolution of the board of directors, headed by the president of the firm, the Italian Luca de Meo . For this, therefore, it would be necessary to hold an "extraordinary" meeting of the executive leadership of the company , in the event that the sovereign crisis is further aggravated.

Asked about this issue, an official spokesman indicates that SEAT does not "confirm or deny" this information and recalls De Meo's recent words at the Frankfurt motor show (Germany), which took place last September in which ensured that the firm would "adapt to the conditions" of the market in the case of a possible declaration of independence of Catalonia. "We follow the process closely," they stress from the company.

In addition to its headquarters, SEAT has in Martorell the largest automobile production plant in Spain, with about 450,000 vehicles assembled during the last year . In this plant, all models of the SEAT range (including the two most sold in our country, the Ibiza and the Leon) are manufactured, with the exception of the Alhambra, the Ateca, the Toledo and the Mii, as well as the todocamino Q3 of Audi, which will be replaced from next year by the Audi A1.

The SEAT plant and the Nissan plant in the Barcelona free zone are responsible for the production of almost 20% of production in Spain (555,000 vehicles out of a total of 2.8 million). Both are one of the sectors with the largest presence in Catalan industry, employing 90,000 people in this autonomous community and bringing together 7% of the Catalan Gross National Product.

The Spanish factories of SEAT and Nissan suffered last Monday the "country strike" summoned for Tuesday by minority unions and sovereign entities. Although their works councils did not join the strikes, the absence of certain components led, in the case of SEAT, to reduce production by 10% .

http://www.abc.es/economia/abci-seat...8_noticia.html

[Tietar]

The industrial giants also prepare their departure from Catalonia before the possible independence

The crisis unleashed in the financial sector by the impending Unilateral Declaration of Independence in Catalonia begins to move to the rest of industrial giants. Although the situation is not as urgent as in banking - where the lack of confidence can lead to the collapse of the entity by the exit of deposits - industrial companies are preparing these days contingency plans to leave the region in the case of secession .

The risk for listed companies is clear. An independent Catalonia would make its financing more expensive and would discourage investors. On the other hand, legal security - the intangible essential for the welfare of any company - would disappear in the face of the tsunami of tax regulations and of different types that the new country would have to approve. "The leak would be immediate," they explain in one of the large industrial companies listed on the Ibex.

The big ones are Gas Natural Fenosa and Abertis. The two companies are owned by the La Caixa group, which yesterday took the decision to move its headquarters to Mallorca due to the uncertainty derived from the independence process.

These companies have been working hard in recent days to convey to their investors that their situation is "totally different" from that of banks. In the case of the electricity company and the infrastructure company, these are companies with businesses regulated or closely linked to the Administration . In the case of Gas Natural, for example, there are assets such as the gas network or power plants. In the case of Abertis, its main asset is the AP-7, located in Catalonia but owned by the central government, and other roads of the Generalitat.

These groups argue that in any case they could continue to serve in an independent Catalonia, where they would still be necessary, as they already do in other countries of the world. Another thing is that, in a later scenario, its assets were expropriated by the Government and its management was replaced by a public company. A situation that both companies have already lived in states like Colombia or Bolivia, respectively.
New decree to expedite transfers

The large listed industrialists based in Barcelona could also take advantage of the new government decree to expedite the transfer to other Spanish cities. Meanwhile, some smaller companies have already moved tab and have packed their bags. This is the case of the biopharmaceutical Oryzon and the telecommunications operator Eurona. Investors have rewarded the change of address with strong rises in the stock market.

These two companies have followed in the last days the road that already marked other companies like Naturhouse , that they were ahead of the tension announcing its change of seat weeks ago.

In addition to the Spanish companies, other international giants based in Barcelona observe these days with attention and concern the increase of the tension in the Catalan streets. These groups also have prepared contingency plans to move their command centers in Spain to other cities such as Madrid or even close their production centers.

One of the countries where the process is most awaited is in Germany, the residence of many companies with factories in Catalonia. The German newspaper Der Spiegel warned last Wednesday that German groups, including Volskwagen, Bayern and Lidl , would leave the region after the declaration of unilateral independence.

http://www.elmundo.es/economia/2017/...04b8b46bc.html

[Tietar]

Spain’s Caixabank and Gas Natural quit Catalonia

Spain’s third-biggest lender Caixabank has decided to move its registered office to Valencia.

Caixabank said in a statement it had taken the decision “in light of the current political and social situation in Catalonia.”

Also on Friday (October 6) Catalonia-based utility Gas Natural said it has decided to transfer its headquarters to Madrid.

Gas Natural’s said the move will be for as long as the legal uncertainty in the region continued.

Abertis also decides tomorrow to move its headquarters outside Catalonia

Abertis has convened an extraordinary meeting of its board of directors early Monday afternoon to approve the transfer of its headquarters in Barcelona, ​​given the political uncertainty currently in Catalonia, according to Europa Press sources close to the concessions group.

The offices that the company, directed by Francisco Reynés, has in the Paseo de la Castellana in Madrid, in the heart of the capital's financial center, are emerging as the company's new headquarters.

Abertis thus joins the list of financial institutions and companies that in recent days have chosen to leave Catalonia in the face of political and economic uncertainty generated by the illegal referendum of last day 1 and the possibility of a declaration of independence next week.

In the case of the motorway and satellite group, it opted to leave Barcelona days after Criteria CaixaHolding, its first reference shareholder with 22.3% of its capital, has chosen to take its headquarters to Palma de Mallorca.

General Water Society of Barcelona (AGBAR) moves its headquarters to Madrid

http://www.europapress.es/catalunya/...007142751.html


Colonial treats in extraordinary council this Monday to move its headquarters of Barcelona
The offices that the company has in the Paseo de la Castellana in Madrid are emerging as the new registered office of the real estate patrimonialist.

https://www.lainformacion.com/empres...celona/6287861

[Tietar]

Catalonia loses listed companies valued at more than 78,000 million



Catalonia loses weight by leaps and bounds within the Ibex and in the Spanish business ecosystem. In just one week, the region has gone from having seven companies on the selective stock market to only one. At the change of residence announced by Sabadell, CaixaBank and Gas Natural Fenosa joined yesterday Colonial, Abertis and Cellnex , whose boards of directors approved the transfer to Madrid.

A few hours after the plenary session of the Parliament discusses this afternoon if it declares its unilateral independence, there remains a single Catalan company in the Ibex: Grifols . The company maintains that it is not planned to move, but yesterday it opened the door to "do what is necessary" in case a hypothetical independence affected the evolution of its business.

In the eight days since the illegal referendum of 1-O, more than 30 companies have announced the transfer of their headquarters. Of these, 11 companies are listed on the stock exchange, accumulating a value of 78,130 million euros , which are no longer based in Catalonia.

Abertis , who on Monday received the approval of the bid launched by Atlantia , reported his transfer to the Paseo de la Castellana in Madrid. Born in 2002, the company is the world's leading road operator and has a capitalization of more than 17.2 billion euros. The company said that it makes this decision "as long as this situation is maintained" and justified that the move is to "maintain the normal operation of the company and in order to protect the overall interests of the company."

Colonial announced to the CNMV that its new registered office will be located on the Paseo de la Castellana. The second Spanish real estate by assets had received in recent days a notice by the agency Moody's, in view of the risks that the Catalan situation had on the evolution of income. The company, which entered the Ibex this year after having become a socimi for tax advantages, has 20% of its assets in the community.

The third of the signatures of the Ibex that announced yesterday its exit was Cellnex . The company will also go to Madrid "as long as the uncertainty continues," he told the CNMV. Teleco seeks to ensure "full and normal operation".

Apart from the selective, corporate leakage has continued to grow over the weekend, with the particular relevance of Criteria Caixa, the holding company of CaixaBank, whose headquarters will now be located in Palma. Also in attendance by the financial entity, Agbar announced its transfer to Madrid.

Insurers carried out movements outside the Ibex all day yesterday. VidaCaixa , the first company in the sector in Spain, announced its move to Madrid, as well as its subsidiary SegurCaixa Adeslas, a subsidiary of Mutua Madrileña. MGS Seguros, for its part, will spend this week to be Zaragoza.

Also the bin Torraspapel , company of the group Lecta, announced its transfer from Barcelona to Madrid. Identical destination will be the fund manager GVC Gaesco , although some managers are linked to Omnium Cultural, an important independence entity.

In addition, the express delivery company MRW reported a move to its registered office in Valencia. The group Mahou San Miguel announced, for its part, the transfer of the company San Miguel from Barcelona to Malaga, where it has a factory.

These names are added to a list that started Naturhouse in August and to which other companies such as Eurona, Dogi, Proclinic, Banco Mediolanum, Arquia Banca, Service Point, Ballenoil or Lleida.net have been incorporated successively.

A company with great roots in the Catalan cultural world, Grupo Planeta , approved yesterday the transfer of its headquarters to Madrid, but only if it finally produces independence. Others rooted in the Catalan business community, Codorniú and Freixenet , have opened the door to the move, motivated especially by the fear of boycotts. Renta Corporación or Catalana Occidente are also likely to relocate.

The owner of brands such as Cola-Cao or Nocilla, Idilia Foods , one of the two companies in which Nutrexpa was divided, said yesterday that, although she hopes that the situation will not happen, "we would move our headquarters- 70 years in Barcelona - outside of Catalonia in order to maintain the legal security necessary to continue working normally. "

Although the independence process lasted more than five years, the imminence of a possible unilateral declaration of independence - already popularly known as DUI - has accelerated the movement of these companies. The possible consequences of this decision annoy and worry companies. Not in vain, an independent Catalonia would be outside the umbrella of regulations and community institutions, which for sectors such as banking or pharmaceuticals could be very serious. The region has remained virtually without banks based in its territory.

In this sense, the National Confederation of Construction (CNC) called for "legal security" to be able to maintain the activity and assured that "fortunately" Catalan companies are making decisions such as moving.

Catalonia is also the headquarters in Spain of important multinationals, which for the moment maintain their caution although, as recognized by the chambers of commerce of France and Germany, live with "concern" the situation. This is the case of the German Bayer , who yesterday asked for a legal and political framework to maintain its activity, without progressing if it will change its headquarters. Other foreigners like Seat, H & M or Lidl are also expectant, although they do not consider the move. Others like Danone or Nestlè have not yet valued the situation publicly.

This situation is opening the doors to other regions to receive companies that leave Catalonia. So far it is the Community of Madrid that most societies are receiving, followed by the Valencian Community, Aragon and Baleares.

Other corners of the geography also seek to take advantage of the situation. It is the example of the Chamber of Commerce of Salamanca and the Provincial Delegation yesterday put themselves at the disposal of "Catalan companies that are shuffling to move their headquarters to the challenge of independence."

https://cincodias.elpais.com/cincodi...06_845003.html

[Tietar]

queues of Catalan savers in banks of the Aragonese border

The long queues of Catalan savers who choose to withdraw their funds from their community have returned to register from early this morning in branches branches of Fraga and other populations of the Aragonese border.

Already on Friday, these movements began to take place, which, according to Efe sources, have affected, albeit to a lesser extent, banking offices in other Aragonese towns far from the Strip, including Zaragoza. The sources consulted have also pointed out that these depositors open accounts with significant economic amounts and that they choose to take their savings from Catalonia "just in case," despite the guarantees offered by their respective home institutions. These sources have assured that a great part of the income oscillates between the 30,000 and 50,000 euros, although they have come to register next entrances or superior to million euros, the latter of entrepreneurs with a greater financial capacity. In addition to the impositions made after waiting in long queues, these banking entities are also recording important movements of funds through the internet or even through telephone calls.

http://www.diariodeleon.es/noticias/...a_1194351.html

[Wadaad]

This is bigger than Spain, this is a prelude for the dismantling of European contemporary borders.

[Ülev]

This is bigger than Spain, this is a prelude for the dismantling of European contemporary borders.

yup

Otro pobre diablo para el desfibrilador de tontos: Pedro Altamirano, el 'Cocomocho' andaluz que quiere proclamar la república de Andalucía

http://www.periodistadigital.com/pol...-octubre.shtml