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Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From ATMs On Friday Morning

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Zero Hedge
October 20, 2017

As tensions escalate in Spain, Catalan Separatists are potentially about to do some real damage and hit Madrid where it really hurts.

In a tweeted message to their 270,000 followers, Assemblea Nacional urged supporters to pull cash from CaixaBank and Banco Sabadell branches between 8 am and 9am Friday to protest at their decision to shift their legal domiciles out of the region…

As the video begins…

“Go to 1 of the 5 main banks and take out as much cash as you want. Don’t forget, it’s your money”.

Catalan News adds:

Civil society organizations in Catalonia call for a mass withdrawal of money from bank ATMs on Friday at 8am in order to pressure the Spanish government. Organizers don’t especify how much money should be taken out nor what to do with it.
The action targets the five main banks in Catalonia: Caixa Bank, Sabadell, Bankia, BBVA and Santander. Organizers call on clients of Caixa Bank and Sabadell to show their disagreement with the banks’ recent decision to move their headquarters out of Catalonia due to the escalating political crisis between governments in Barcelona and Madrid.

This is the first “direct and peaceful” action organized by Crida per la Democràcia (Call for Democracy). This is an umbrella group which includes among others the two main pro-independence organizations in Catalonia: the Catalan National Assembly (ANC) and Òmnium Cultural.

The mass withdrawal is also aimed at condemning the imprisonment of ANC and Òmnium presidents, Jordi Sánchez and Jordi Cuixart, held in custody on sedition charges since Monday.

As a reminder, both Banco Sabadell and Caixabank – the two largest banks of the Catalan region – moved their corporate headquarters out of Catalonia (with the help of the Spanish government) shortly after the referendum.

And now it’s time to find out just how solvent (and liquid) the strong Spanish banking system truly is.

The message has now been retweeted or liked over 7,000 times (and remember its past midnight in Spain).

This article was posted: Friday, October 20, 2017 at 7:01 am





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