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Investors are confident Spain and Catalonia will reach “an agreement” to avoid independence, says chairman of Banc Sabadell

Josep Oliu admitted in an interview that the bank “does not have a plan B” in case of a break-up of Catalonia from Spain. The chairman of the Catalan financial institution admitted that they do not contemplate the independence of Catalonia as a feasible scenario. “Reaching agreements, changing some things, giving in a bit, trying to find a settlement suitable for everyone, that’s what we are all hoping for”, Oliu said. Commenting on the state of the economy, the banker regretted that politicians in government in Spain and Catalonia seem to be “ashamed” of the economic policies that they are introducing, when they should “explain to people that they are reasonable”.

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03 July 2014 05:06 PM

by

ACN

 Barcelona (ACN).- The Chairman of the Banc Sabadell, Josep Oliu, said on Thursday that investors  are not worried for the potential independence of Catalonia. Oliu argued in an interview that this is the case because foreign investors are confident that Spain and Catalonia will reach an agreement that will avoid a full break-up of Spain.  “Reaching agreements, changing some things, giving in a bit, trying to find a settlement suitable for everyone, that’s what we are all hoping for”, Oliu said on Catalan radio. The banker warned that not achieving an agreement could be “very bad” for everyone.


The Banc Sabadell’s chairman reiterated that foreign investors do not ask him about the issue of independence because they consider it an internal matter that will be solved sooner or later. In fact, Oliu admitted that his bank “does not have a plan B” to put in practice in case of independence. “We do not contemplate the independence of Catalonia”, he said.

 “Those of us that have interests and relationships in one part or another think that there should be dialogue and agreement”, he pointed out. Oliu said, however, that this is his opinion but not the bank’s, as financial institutions “do not get involved in politics”. “We do have clients and shareholders with diverse views”, said Oliu.

 Speaking about the economic and financial situation in Catalonia and Spain, Oliu regretted that politicians in government seem to be “ashamed” of their own policies. According to him, they should explain why those policies “are reasonable”. “Sometimes it seems as if they were just doing things because they were told to in Brussels”, he argued. The Spanish government has been introducing a financial reform in recent years, while Catalonia has also put in place severe austerity measures to put the deficit under control.

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  • The chairman of Banc Sabadell, Josep Oliu (by ACN)

  • The chairman of Banc Sabadell, Josep Oliu (by ACN)