Thursday, September 11, 2014

Scots Banks Could Move to London

For a bit it looked like Scotland might vote to become independent. One poll even showed "Yes" ahead. Then comes this story by Reuters for Yahoo News.

It reports two major Scotland-based banks - Lloyds and the Royal Bank of Scotland - would move their headquarters to London if independence occurs. As the article says,
Thursday's announcements by Edinburgh-based Lloyds and Royal Bank of Scotland - both part-owned by the British government - were greeted by the "No" campaign as bolstering their position.
Scots have to be thinking, "When will the other shoe(s) drop? Who else will bail out?"

We'll know the outcome of the vote a week from today. My current prediction: "No" will win narrowly - what most polls have shown.