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Scotland and the Union

The prerequisite would be a unanimous vote in the European Council, which would be impossible. A divorced Scotland would be the highest-taxed country in Europe. The Bank of England would set its interest rates and the value of its currency. Flows of investment would go one way—out, not in. Scotland’s thriving financial services industry, which can rival that of anywhere in the world, would take its money to London, Zurich or anywhere else. Certainly Scotland would not remain in its current excellent condition if it were separated from the United Kingdom.