London (CNN) -- It's September 11, 2012. The National Day of Catalonia. And an estimated 1.5 million people are on the streets of Barcelona waving banners "Catalonia -- The next state in Europe" and "Independencia." Separatist Catalans are calling for sovereignty from Madrid and the rule of the conservative Popular Party, led by Prime Minister Mariano Rajoy. Losing 20% of the economy is the last thing the Spanish government needs right now. But if those calling for independence get their way, that could be exactly what happens when Catalans go to the polls this weekend. Catalonia -- a region in the northeast of Spain and home to global brands and tourist attractions including Barcelona Football Club and the Gaudi House Museum -- represents one fifth of the Spanish economy.
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Catalans go to the polls on Sunday November 25 in a vote that trigger a referendum for independence
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Catalonia is home to tourist attractions -- Barcelona Football Club and the Gaudi House Museum
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The CiU is raising the debate on sovereignty at a time of public frustration over taxes in Catalonia
Spain
@placeholder, part of the eurozone mainstay, is grappling with unsustainable borrowing costs and a soaring public deficit while trying to placate public anger over a lack of jobs and stringent austerity.
Spain
As the industrial heartbeat of the eurozone's fourth largest economy, Catalonia is the most important economic region in @placeholder.
Madrid
He said: "Up until September 11 his strategy was to go to @placeholder and ask for a better financial deal or "fiscal pact" as he called it.
Spanish
Spanish
And while not wholly independent from @placeholder state law, they are still considered autonomous.
CiU
Moec said in a note that the @placeholder blames the central government for disproportionate taxes levied at Catalans -- with the wealth then re-distributed to Spain's poorer regions.
Spain
Moec said in a note that the CiU blames the central government for disproportionate taxes levied at Catalans -- with the wealth then re-distributed to @placeholder's poorer regions.
Spanish
Spanish
"All the @placeholder institutions reinterpreted the constitution in ways that did not allow Catalunya to feel comfortable within that country."
Spanish
Spanish
In 2010, the @placeholder constitutional courts ruled that although the term "nation" could be applied to Catalonia, the description had no legal validity.
Madrid
The recession and financial crisis of 2008 then exacerbated the tensions between Catalonia and @placeholder, Sala-i-Martin said.
Separatist Catalans
Catalans
He said: "If Spain came back today with an offer to solve the financial problems, most @placeholder would still like to be given the right to vote for independence."