Scots vote for independence and its impact on EconomyTim Kennedy (Author) Published Date : Sep 23, 2014 00:10 ET
A steady United Kingdom is being envisioned with the European market being engorged by Scotland to reject independence. This move has indeed pledged to what could possibly be the most emerging western economy of 2014! After a 2 year campaign the ball still rolled down to a rejection of independence to conciliate the grief that the 1.5 million voters are experiencing.
This event has shaken up the political continuum and it can be presumed that a shift in regional powers will indeed mold the politics for the upcoming era.
The story continues with future decentralization strategies to be discussed further in October and new laws to be passed in next January with elements of income tax, VAT, benefits and other variety of taxes being included. This also brings into mind if such a move will make Wales and Northern Ireland to work on getting these same powers.
Regardless of the strident campaign for independence gaining substantial votes, it is apparent that a big chunk of people are reluctant to let go of the Union. The ultimate fact remains that the Scottish may vote for a steady economy but they will still be uncertain on various issues which will not be resolved by themselves without the help of the Union.
Long story short, the Europeans are also against the idea of breaking up because it will eventually give the leniency for regions such as Catalonia and Bavaria to take parallel steps will which will put huge cracks on the Union given the fact that the Union is clearly much stronger as a whole than it being broken into pieces.
A conventional behavior is being observed when it comes to the markets and the level headed election process is unlikely to provide a victory for this fight. The GBP versus USD has also been escalating which verifies that the market is strongly backing the no vote.
Scots vote for independence and its impact on Economy