independent scotland could be exposed to bank shocks
Last Updated : GMT 11:00:11
Arab Today, arab today
Arab Today, arab today

Independent Scotland could be 'exposed to bank shocks'

Arab Today, arab today

Arab Today, arab today Independent Scotland could be 'exposed to bank shocks'

Pro-independence supporters
London - AFP

An independent Scotland could have a disproportionately large banking sector compared to its economy, leaving it vulnerable to financial shocks, according to a study by The Banker magazine released Monday.
The trade publication found that Scotland would have banking assets 12 times the size of its gross domestic product (GDP), if banking assets registered in the country remained there were it to become independent.
This "presents a significant risk for the country's economic stability", The Banker said.
The study will add to debate between rival camps ahead of a September referendum on Scottish independence. Both Yes and No sides claim Scotland will be financially better off if their campaigns prevail.
The study estimated assets of Scottish-headquartered banks The Royal Bank of Scotland, HBOS and Clydesdale Bank to be $2.6 trillion, 12 times the size of a Scottish GDP figure posited at $219 billion.
Britain's banks currently have a total of $9.9 trillion in assets, roughly four times GDP, while Iceland had a banking sector 10 times greater than its GDP before the collapse of the country's financial sector, the study said.
"Had it been independent during the financial crisis, there is little doubt that an independent Scotland would have been devastated and forced to turn to the IMF for help," said The Banker editor Brian Caplen.
The International Monetary Fund contributed to rescue packages for several small countries, including Iceland and Ireland, when their overextended banking sectors hit trouble in the wake of the 2007-2008 financial crisis.
The Scottish government rejected the study's findings, saying it wrongly included London-based investment banking activity and failed to take into account reforms to the banking sector since the crisis.
"These figures are outdated and do not reflect the reality of Scotland's financial sector," a government spokesman said.
A spokesman for the campaign against independence, Better Together, said the study "confirms that separation would present a significant risk to Scotland's economic stability".

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

independent scotland could be exposed to bank shocks independent scotland could be exposed to bank shocks

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

independent scotland could be exposed to bank shocks independent scotland could be exposed to bank shocks

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday