Several authors have shown how the 2008 financial crisis and the subsequent budget cuts had recentralised territorial politics in Spain. This hypothesis is perfectly accurate ; nevertheless, this paper aims to demonstrate that this recentralising effect has had an asymmetric impact on the governance of the Spanish regions. A set of three variables were examined in each of them, like the political discourse of autonomous leaders, the financial agreement about the new “rules of the game” and the politics of contention through the Constitutional Court. Drawing on the Hirschman’s model, three institutional paths were identified: a first group of conservative regional executives accepted the norms imposed by the People's Party cabinet (loyalty), while a reduced set of social-democratic regions (Asturias and Andalusia) implemented a strategy of resistance (voice). At another level, Catalan leaders shown a strong preference for the "exit" option.