Luis de Guindos, the Spanish economy minister, poured cold water on the possibility of Catalonia gaining independence and said citizens don't need to worry about having their deposits in Catalan banks.
"It's very clear the independence of Catalonia is not going to take place," he told CNBC Monday.
"It's illegal, irrational, detrimental to the Catalan economy. We have seen the decisions taken by a lot of corporations."
His words come after a selection of high profile Spanish companies voiced concerns about recent tensions with some opting to move their headquarters out of the region. De Guindos said these announcements sent a very clear message to the politicians of the regional government of Catalonia.
He added that despite the uncertainty created by the Catalonia crisis, Spain will keep growing.