Eq: Dev ex-US


Scotland and the UK have been at odds for centuries, embedded in a tenuous alliance for the last three hundred years. Two years ago, Scottish nationalists failed by a narrow margin to leave the UK, but now the leader of that party is trying to secure a second Scottish referendum following the UK’s vote to leave the EU. The leader of the SNP, Nicola Sturgeon, wants a vote once the details of the Brexit negotiations are decided but before the UK actually leaves the EU. “What Scotland deserves is the chance to decide our future in a fair, free and democratic way and a time when we are equipped with the facts we need”, says Sturgeon.

FINSUM: Technically the government in London would need to approve this referendum, but we expect Scotland will end up undertaking a vote either way.

Source: Wall Street Journal


The Brexit soap opera continues in Europe, but an important story within it is Scotland. The country voted strongly to remain in the EU, a direct contrast to its southern neighbor. And while it has been lobbying with London to give it special powers to stay part of the EU single market, the English have reportedly not been listening. Now, Scotland’s chief political leader Nicola Sturgeon is weighing the possible date for a new referendum on UK membership, and she says Autumn 2018 looks like a good choice. The country has not definitively chosen to hold a second referendum, but says it may if the British don’t account for its demands.

FINSUM: The English better be careful or they are going to end up very lonely and isolated, losing Scotland at the same time as Europe.

Source: Financial Times


We have stayed away from covering too much of the in-fighting currently going on in Britain over Brexit and how to proceed in negotiating with the EU. However, something potentially very troubling came out this weekend that could weigh on global markets—there may be another Scottish referendum in the near future. Scotland has been furious over Britain wanting to leave the EU (Scotland is heavily pro-EU), and it has complained that London has not listened to its questions and concerns about Brexit. Therefore, the country is mulling over planning a new referendum on UK membership, and UK PM May has reportedly said it was okay so long as it occurred after the UK leaves the EU.

FINSUM: British political logic is confounding to outsiders, so it is hard to say how this may play out. However, we suspect Scotland will not want to wait until after the UK leaves the EU to have its referendum.

Source: Bloomberg

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