The majority of Scots is in the upcoming vote for independence. How the Scots want to go in the future – and what it means independence for England
Over 300 years ago, that Scotland was part of the United Kingdom. . Now, the chances are great that the country soon determined his own fate. The supporters of an independent Scotland have a real chance that your dream becomes a reality in the vote on September 18. A month ago they were in surveys 22 percentage points behind the followers of some of Britain. Well said, in an opinion poll for the first time a majority for the separation of
where the Scots were already given great privileges in the past. Way they have since 1999 its own parliament and can laws in areas such as education and health issue
The accusation:. reserves the London oil revenues rather for himself
Thank’s decentralization but not far enough. The nationalists accuse the government in London, in particular, to squander the wealth of the country: instead of in the poor regions of Scotland, flowed the revenues from the Scottish oil reserves mainly to London
But would it be an independent Scotland alone ever survive?
When compared with the UK, Scotland, scores well. The gross domestic product per capita, thanks to the high revenues from oil and gas with just 26,400 pounds, well above the average of 22,300 pounds. Scotland’s head of government Alex Salmond calculates that an independent Scotland would rank among the richest nations in the world (ranked sixth).
Overall, controls Scotland nearly ten percent of British GDP. In the first quarter of 2014, the Scottish economy
mighty treasure in the North Sea increased by one percent, the British on the other hand was only an increase of 0.8 percent.
The energy sector is one of the Main arguments of Salmond for Scottish independence. He refers, citing BP that inventories are rich in oil and gas in the North Sea 40 years. They are estimated to be worth up to 1.5 billion pounds. However, other estimates put the value only at 150 billion pounds.
For Salmond is not a problem. Because Scotland was strong not only in fossil, but also in renewable energies. The sea off the coast is ideal for offshore wind farms. Already in 2020 Scotland could export energy worth two billion pounds.
But not only the energy plays a big role, but also the financial industry for Scotland. It controls nearly eight per cent of GDP added, if one deducts oil and gas.
Smoothly would not run a separation. There are mainly two difficult questions:
first Which currency would an independent Scotland? London has made it clear that Scotland should not continue to pay the pounds. But of course, could couple its currency to the pound Scotland – or eventually but design their own notes and coins. However, that could be in the transition phase leading to severe turbulence – whichever currency investors trust the better future. You will deduct billions of Scotland, when the decision is made on the pounds. The Scottish financial sector would significantly harm.
On Monday, therefore, came the shares of Royal Bank of Scotland (RBS) and Lloyds under pressure to sell. The papers of the two Scottish banks lost about 2.5 percent. Anyway, would the two banks an uncertain future before: In the case of RBS, the British government is the majority owner and also at Lloyds holds a shareholding. In addition, the EU regulations require that banks have to be based in their main market. That would be for the two banks England.
The British pound lost up to 1.1 percent. This is the biggest daily loss in more than a year. With $ 1.6143 it was as cheap as most recently in November-2013.
second The second big question is whether Scotland takes over a part of the British debt in the event of cases. Interest has not the government in Edinburgh. However, this refusal could lead to a difficult start in the financial market. “For investors, the refusal could constitute a breach of trust. They would then demand higher interest rates, “speculates the Swiss bank UBS in an analysis. An EU-accession of the Scots could also be complicated by debt-rejection
the British military must worry about a completely different problem. Equipped with nuclear missiles submarines are in the mouth of the River Clyde, north-west of Glasgow. They have no place in Scotland nothing, the government is in Edinburgh. Some experts consider the search for a new location in England or Wales and an extremely expensive move indeed possible. But others see the end of Britain looming as a nuclear power.
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