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After an illegal referendum over independence was held last Sunday, several companies chose to move their headquarters away from this Spanish northeastern region.

It is clear, however, that such a move would meet vehement opposition from Spanish authorities.

Barcelona Mayor Ada Colau, however, urged the government to refrain from invoking the never-before-used Article 155, which allows Madrid to take over autonomous regions.

The demonstration comes a week after the Catalan government held a referendum on secession that was condemned as illegal and unconstitutional by the Spanish government.

Hundreds of thousands of Spaniards rallied Sunday in a tide of red and yellow national flags in what is the worst upheaval since the country returned to democracy in the 1970s. Videos of police pulling voters out by their hair and kicking them on stairs flashed around the world.

Douglas Chapman MP, who presented the Catalan motion to the conference on Monday afternoon, told BuzzFeed News: "The decision is for the people of Catalonia [but I] would support their right to self determination and independence if that's what they choose to do".

"Given the negative implications of independence for economic activity in Catalonia due to its likely exclusion from the European Union and euro area, we think the likelihood of independence is very low", a note from JP Morgan analysts read today.

The "Yes" side won the referendum by a landslide, winning 90 per cent of the vote, though less than half of the region's electorate cast their ballots.

"We feel both Catalan and Spanish", Araceli Ponze, 72, said during Sunday's rally.

Without a declaration of independence, Puigdemont risks seeing "the momentum behind Catalan independence fizzle out anticlimactically as he ignores his own referendum", the TS Lombard analysts wrote. No one seems eager to recognize Catalonia, including the European Union. Spain is likely to use military force if Catalan leaders declare independence.

Catalonia's leader has announced a statement for 9:00 PM CET, which fueled speculation that Catalonia will unilaterally declare independence.

Since then, hundreds of thousands of residents have thronged onto the streets every September 11, a Catalan holiday, to demand independence. "As a matter of worldwide law, the disproportionate use of force is not lawful, and what happened on the streets of Catalonia was not lawful".

The Minister believes that the crisis should be resolved through dialogue at all levels of Spanish politics. The vote also did not include the votes from the rest of Spain and was deemed unconstitutional as a result.

Catalonia is Spain's wealthiest region, with a unique history, culture and language.