The Economy of Catalonia

4
In or out of the euro
4.1. An independent State and the euro 10
Jordi Galí
(Translated by Miquel Strubell)
Introduction
A major uncertainty regarding the eventual establishment of a Catalan state is
its fit inside Europe. Specifically, many Catalans wonder if this new scenario
would be compatible with continuing to enjoy the economic benefits (and, of
course, suffering from the disadvantages as well!) associated with our current
status of citizens of a member state of the European Union (EU) and the Eurozone.
The article «Europe Oh Europe» by the Wilson Initiative (www.wilson.
cat) dealt some time back with the implications of having a State in relation to
the fundamental economic rights guaranteed by the EU: the free movement
of goods, capital and people. The aim of this paper is to analyse different scenarios
as regards the use of the euro in a hypothetically independent Catalonia
and the enjoyment by its residents of the benefits linked to the Eurozone.
10. An earlier version of this paper was published as GALÍ, J. (2013) «Estat propi i
euro», Col·lectiu Wilson (blog), 19 March. (“An independent State and the Euro”
Wilson Initiative)
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