A Yes vote will trigger 18 months of negotiations between Scottish leaders and London-based politicians on how the two countries will separate their institutions ahead of Scotland's planned Independence Day of March 24, 2016. The union grew to become a great empire in which Scots took a leading role as inventors, artists, doctors, missionaries, engineers and intellectuals — producing luminaires such as economist Adam Smith, author Sir Walter Scott and poet Robert Burns. Independence leader Alex Salmond argues this is simply a campaign tactic and that politicians in Westminster will eventually agree to a currency union because it is best for both countries. Howard Archer, chief UK and European economist for IHS Global Insight, said there's likely to be a major market reaction either way: "A vote for independence is likely to result in a further appreciable sterling sell-off; a vote for Scotland to remain in the UK is likely to lead to a significant relief rally for the pound." In the long term, the loss of Scotland would make it more difficult for Labour to win future elections, potentially ushering in an era of conservative, pro-business government in Britain. Salmond, the independence leader, has argued that Scotland should receive as much as 94 percent of the tax revenue generated by North Sea oil and gas production, which would help fund day-to-day government spending, with any surplus going to a fund for future generations. The independence campaign estimates that there are more than 21 billion barrels of oil equivalent in its portion of the North Sea with a market value of almost 1.3 trillion pounds. The country's strategic location would make it a "key partner in NATO's air and naval policing arrangements for northern Europe," independence advocates say.
Scotland's Independence Vote Puts Uk Union On Edge
By DANICA KIRKA, Associated Press, San Antonio Express-News: World
Wed, 09/17/2014 - 9:55pm
BING NEWS:
- Scottish Labour passive as SNP declines
According to coverage by the Associated Press news agency and others, just 2,000 people turned up to the 20 April pro-Scottish-independence march in Glasgow.
04/23/2024 - 12:17 am | View Link - Thousands attend rally in Glasgow for Scottish independence
Thousands of people turned out at a rally for Scottish independence, with many supporters saying they were not concerned that ex-SNP chief executive Peter Murrell has been charged in connection with ...
04/21/2024 - 10:36 am | View Link - Gordon Brown warns Unionists not to rely on SNP 'messing up' to make the case against independence
The former prime minister said support for Scottish independence had remained solid despite the SNP dropping in the polls.
04/15/2024 - 2:59 am | View Link - The Wars of Independence
That divide was never wider than during the Wars of Independence in the 13th and 14th centuries when a chance event brought an era of relative friendship to an end in violent conflict. The crisis ...
08/15/2020 - 8:01 pm | View Link - Robert the Bruce, King of Scots 1306 – 1329
Here was perhaps his greatest hour and the most enduring memory of Robert the Bruce – fighting for his nation's independence against a hugely superior English force and winning, just as Wallace ...
08/15/2020 - 8:01 pm | View Link - More
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