If Scotland was independent, would its economy be affected just like Ireland and Greece?
Depends when it became independent, in this hypothetical scenario and how the independent goverments behaved. If Scotland had been independent 40 years ago it might have invested its oil money the way Norway did. Their sovereign wealth fund is now equivalent to 2% of all the financial holdings in the world. It may also have managed its financial system very different, free from the influence of London. We’ll never know. If it had become independent say five years ago, it would indeed have been in a very tricky position, although the figure of £430 billion quoted below is completely wrong. The UK government bailed out a number of institutions, one of which was Scottish, one part Scottish and at least three 100% English. The total money invested by the government in RBS and HBOS actually amounts to around £75 billion. The larger figures you see were amounts insured and would only have to be paid if the banks literally became worthless. This is not likely to happen given that RBS has some
