Ah - forgot to mention this:
Considering the crap that is sloshing around the UK banking sector and The City, it is probably a very good time to get loose of The City, even if that means ditching the union.
The banking liabilities in the world due to derivatives gone mad are the largest in London and NYC. If the Scots (and anyone else) can isolate their national treasuries from having to backstop the large banks, then that alone is a sound reason to want to split off.
“Considering the crap that is sloshing around the UK banking sector and The City, it is probably a very good time to get loose of The City, even if that means ditching the union.
The banking liabilities in the world due to derivatives gone mad are the largest in London and NYC. If the Scots (and anyone else) can isolate their national treasuries from having to backstop the large banks, then that alone is a sound reason to want to split off.”
Not possible as they intend to retain the UK pound and the bank of england as their central bank. They will get all the disadvantages coupled to zero fiscal influence.
The banking liabilities in the world due to derivatives gone mad are the largest in London and NYC. If the Scots (and anyone else) can isolate their national treasuries from having to backstop the large banks, then that alone is a sound reason to want to split off.
Unfortunately for your thesis, some of the most irresponsible behaviour by British banks prior to the 2008 crash actually came from Scottish-based institutions, RBS and HBOS. The Edinburgh moneymen, once a byword for probity and prudence, had their noses in the trough as deep as anybody else.