Europe’s Richer Regions Want Out

The New York Times ^ | October 6, 2012 | STEVEN ERLANGER

[Vanders9]

The financial services industry is more than just banks, but in any case London has Natwest, LLoyds/TSB and several others. They also have a controlling interest in RBS, which since the financial crisis is now mostly owned by the British government.

[Vanders9]

Yeah! For God and Ulster! and...the South will rise again!!!

[Lysandru]

All,
So check this out:

http://www.telegraph.co.uk/news/uknews/scotland/scottish-politics/9593135/Nine-in-ten-Scots-living-off-states-patronage.html

[NonValueAdded]

Mel: "Freedom... hey, where's everybody going?"

All: "Free stuff! over there ..."

[presidio9]

If you don't think a hot dog can be a luxey item haute cuisine a regular necessity, you my friend have never been to Walter's in Mamaroneck NY.

[presidio9]

The financial services industry is more than just banks, but in any case London has Natwest, LLoyds/TSB and several others. They also have a controlling interest in RBS, which since the financial crisis is now mostly owned by the British government.

As much as I am enjoying our little conversation here, there comes a point where someone needs to admit that they are in a little bit over their head and arguing for argument's sake. I'm afraid that you have just reached that point. Your original point of contention was that Scotland's financial services industry is insigificant, which is simply not true. Your most recent post here makes it clear that you are unaware of the fact that (1) RBS owns Natwest, and (2) the British Government (of which Scotland is still currently a part) made similiar investments in both RBS and Lloyds TSB as part of the 2008 UK rescue package.

[Vanders9]

I never said that Scotland's financial services industry was insignificant. I merely said that it was much smaller than the City of London, even accounting for the difference in population size My contention is that an independent Scotland would not be able to rely on its financial services industry to sustain its needs, particularly as an independent Scotland would be in competition with the City.

I know that the British Government intervened in several banks during the financial crisis. That is not the point I am trying to make. If a large proportion of RBS, Scotland's largest bank, is owned by the British Government, that means that a large amount of RBS is owned by the BRITISH people. And England and Wales make up 90% of Britain's population. That makes it OUR bank, not Scotlands.