Political tensions in Catalonia continue to simmer after Banco Sabadell confirmed its intention to relocate its legal headquarters, while Caixabank is due to hold a meeting to discuss the issue later on Friday.
Shares in both banks rallied yesterday on the news but have today given up some of those gains.
Fernando Sanchez Costa, Catalan parliament deputy, and member of Spain's ruling Partido Popular, told CNBC Friday that Catalan independence leaders are now in a difficult position.
"The Catalan high-class and middle-class have played to a revolution," he said. "And now they are discovering that revolution is not a joke. We have been telling them for years 'Please keep calm.'"
"So it is legitimate to defend independence, but what is not normal, what is not good, is to break everything — the rule of law, constitution," he added.