Luis de Guindos says slowdown in growth in Catalonia is hampering Spain's economy. File photo: AFP

De Guindos told the Spain radio that the slowdown in growth in Catalonia, which accounts for a fifth of Spain’s GDP, is hampering the Eurozone's fourth largest economy. De Guindos estimated that the crisis could "easily have cost a billion euros" (1.2 billion USD) in the fourth quarter. More than 3,000 companies, including major banks and retail firms, have already moved their legal headquarters from Catalonia. De Guindos blamed a loss of confidence generated by the previous Catalan government.