Instead of listening to the Scottish Independence Doomsday Prophecies, read Standard and Poors report on Scotlands economic abilities to function as an independent nation: scribd/doc/209646043/Standard-and-Poor-s-Key-Considerations-For-Rating-An-Independent-Scotland If you cant be bothered reading it all, heres the last wee bit: In brief, we would expect Scotland to benefit from all the attributes of an investment-grade sovereign credit characterized by its wealthy economy (roughly the size of New Zealands), high-quality human capital, flexible product and labor markets, and transparent institutions. Nevertheless, the newly formed sovereign state would begin life with comparatively high levels of public debt, sensitivity to oil prices, and, depending on the nature of arrangements with the EU or U.K., potentially limited monetary flexibility. At the same time, Scotlands external position in terms of liquidity and investment could be subject to volatility should banks leave. On the other hand, if this were to happen, it could bring benefits in terms of reducing the size of the Scottish economys external balance sheet, normalizing the size of its financial sector, and reducing contingent liabilities for the state. In short, the challenge for Scotland to go it alone would be significant, but not unsurpassable.
Posted on: Sun, 14 Sep 2014 15:25:08 +0000
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