Most Catalans seem to be unaware of the financial consequences that independence would entail: Since all banks today work with fractional reserve banking, bank

Most Catalans seem to be unaware of the financial consequences that independence would entail: Since all banks today work with fractional reserve banking, banks in Catalonia depend on the European Central Bank to keep their ATMs running. If Catalonia became an independent country and the ECB decided to cut Catalonia out the Eurozone, the corralito scenes in Catalonia will resemble those we have seen before in Cyprus and Greece.