molly wrote:Suff wrote:
The city moves to Edinburgh and Glasgow.
!
We have just been out for lunch with some friends and we discussed exactly that. We talked about the merits of buying a flat in the New Town to let out to some young banker……..
Molly, keep your money in the bank, just yet. My grandfather was a Scot from Ayrshire, my grandmother was Irish from just north of Dublin and I am a Yorkshireman. We are all known for being careful with money, or 'tight' as some might say.
There are so many permutations of what will happen, and the Stock Exchange and the banks moving to Glasgingburgh is way down the list, for so many reasons. Scotland is in a bit of Limbo following the ref.
The UK parliament is not going to afford Scotland another referendum, despite what Alex and Nicola want, and that decision is up to the UK parliament. It is certainly not going to allow a UK wide Scottish independence referendum - it's not daft.
As things stand the UK, including Scotland, is still in the EU until exit negotiations are completed, and that could take ... years? Invoking A50 does not put us, the UK with Scotland, out. Should Scotland somehow secede from the UK before the UK leaves the EU the UK, an emasculated member of the EU, could still apply its veto to Scotland joining the EU. It is the UK which signed all the treaties, not the individual countries within it, and it is the UK which will still hold those rights should Scotland secede.
If Scotland is still in the UK when Brexit is finalised and then leaves the UK things change. In that case an independent Scotland would have to apply to join the EU. It would have to take the Euro as its currency. As a newly formed independent state it would also have to negotiate its membership of such things as the International Monetary Fund and the World Bank.
Having said that, Scotland could go for UDI, Zimbabwe style. We have all seen what happened there, so let's not even consider it.
The financial services and banks are not going to flee to Glasgingburgh when Frankfurt already exits and works. To think otherwise is fantasy.