Independent Scotland open to Cyprus-style bank risks, says Britain
There will be no independence
techmac:
There will be no independence
There will be no independence
I wouldn't be so sure. Britain is no safe haven any more
even if they do escape the clutches of the Empire 
they will be made an example of, and recaptured by the evil banker warriors
as they have the Oil (and fish)
if it was nt so cold for most of the time, many more would move up there
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An independent Scotland would have a vastly oversized financial sector that would leave it vulnerable to a Cyprus-style banking crisis, Britain's finance ministry says.
Before a referendum due in September 2014 on whether Scotland should split from the United Kingdom, the British government is analysing the impact of independence on Scotland, which has a population of about 5 million.
A report from the finance ministry - or Treasury - says that without the British government's regulatory framework, Scotland would be left vulnerable by having a banking sector that dwarfs its economy, driving businesses out of the country.
"An independent Scotland would have an exceptionally large banking sector compared to the size of its economy - with banking assets of more than 1250 percent of Scottish GDP - making it more vulnerable to financial shocks and the volatility of the sector," said a Treasury statement which contained excerpts from the report, due to be published on Monday.
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