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The problem with this “we can do better …

Comment posted The eurozone crisis and the Independence referendum: time for proactive postponement? by HansBlix.

The problem with this “we can do better on our own” is that serious financial failures are recurring at about a 10 year frequency and we would have less than 5 after independence to prepare a firewall of sufficient size to survive the next; getting rid of RBS and BoS would be a priority and the same might apply to the Scottish insurance companies. I doubt that we could or would want to do it.

Whereas it seems to suit some to blame London for these failures, those that do should remember that greed triggered them all and, mostly, except for Goodwin who unfortunately is a Scot, from overseas. We were once proud of the fact that Scots were running almost every major bank in the world at one time; look at the Canadian banks.

HansBlix also commented

  • You’ve forgotten the Darien Scheme? Nothing to do with London and it did cost us our independence when England bailed us out.

    This happens regularly and the smaller you are, the more dangerous it is?

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