Much of the debate on putative Scottish independence strikes me, from a distance, as somewhat odd. On the independence side there is a a strong debate on what currency to use when the real issue is the ability of an independent Scotland, within or without the EU/Euro to manage its very very large banking system. On the unionist side much commentary seems to see it as inherently impossible that such a small state as Scotland could possibly thrive.
One small state that has survived is of course Ireland. It is not that different, in culture and orientation, to Scotland. If we can survive, one might ask why might not Scotland? How do the two stack up? Continue reading →
The next week is going to be fascinating. I have no idea how Scotland will vote, for or against independence. I have no idea how I would vote were I there. Economically, there is probably a somewhat stronger argument for NO than YES, if you believe the politicians promises. But national self determination is not about economics alone. Ireland has seen a massive crash, from its overblown banking system. How bankers and other vested interests responded to that is very instructive for the scottish debate