Scotsmen intend to hold a referendum on independence on September 18 of 2014. Meanwhile, Britons warn separatists that a currency union between Scotland and the rest of Britain will hardly be successful without a political union. Analyst at “Alpari” Company Darya Zhelannova says: “Scotland is a small territory in the UK. It’s not a strong one contrary to what it says, and it is confident that it will feel better if it is outside the United Kingdom. It has really nothing to count on as a sovereign state. Concerning currency, it is an extremely complicated problem. It’s quite strange to have the sterling pound when Scotland has no means to influence the monetary policy. Most likely, this is a short-sighted move. It makes no sense to join the European Union because it is undergoing a crisis.”
However, the supporters of Scotland’s independence show optimism. They believe that with independence the country will become a member of the EU, get its own currency and will be able to use oil reserves in the North Sea to upgrade living standards. Moreover, Scottish nationalists intend to preserve British monarchy. Here is an opinion from representative of the Scottish Chamber of Commerce Amy Dalrymple.
Separatists dream of Scotland turn into a rich European country like Norway. However, Britons say it will never be such country. Independent Scotland will have to join the EU and in this case, London is supported by President of European Commission Barroso. Oil fields in the North Sea are getting exhausted. This means there will be no abundance of oil. In short, independent Scotland will lose more than what it will gain, says CEO Alor Company Sergei Khestanov. “If Scotland ultimately secedes from the UK, it will be very difficult to maintain the standard of living habitual for modern Scotts. Moreover, the secession will have no impact on the exchange rate of the sterling pound because the economy of Scotland occupies an insignificant part in the British economy. However, there may be sharp fluctuations in its exchange rate,” Sergei Khestanov said.
It has to be admitted that separatist sentiments are growing in Europe. Economically developed regions in large European countries such as Catalonia in Spain and Bavaria in Germany have no intention to finance the poor regions of these countries. In this line, Scotland as a subsidized part of Britain looks like a white crow. But it is not the only region. Experts have singled out two tendencies, separatism of the poor (in other words political) and separatism of the rich (economic). But even political separatism depends on the economy. Some time ago former President of Catalonia Jodi Pujol said: “Language is important. Flag is important. Culture is very important. But money is more important.”