Second, the ongoing secessionist movement by Catalonia has stoked concerns for
the export-led recovery in Spain. The region with Barcelona as its capital has
complained that the Spanish government takes a disproportionate amount of tax revenue
from the wealthy region, and disrespects the Catalan language and culture. The risk is a
serious one, especially considering 48% of Catalonians would prefer independence from
Spain. In addition, while only accounting for 16% of the Spanish population, the region
accounts for 26% of total exports.65 Yet, the Spanish government has continually struck
down Catalonia’s attempts to call a referendum on independence, and the region would
have difficulty pleading its case to join the EU if it did proclaim independence