If Scotland Goes, Bankers Fear Britain Could Exit The European Union

2516 Words11 Pages
The article “If Scotland goes, bankers fear Britain could exit the European Union” was written by Jenny Anderson, published in The New York Times on 11th September 2014. This article brings out a completely new perspective regarding Scotland’s independence. Every news article nowadays has been focusing on the political aspect of Scotland’s independence, but Anderson focuses on one of the major consequences which might occur if Scotland becomes an independent country, and that is the exit of Britain from the European Union (EU), which most people are calling ‘Brexit’. Brexit is not a just a political debacle, but also a great financial issue. The author points out that it is considered to be a bigger concern than Scotland’s independence. Bankers and other financial sectors feel that Brexit can cause a huge deal of loss, because Britain is said to be the gateway for the rest of the 28 nation European Union, a market which holds about 500 million more than what is prevalent in the United States and Japan combined. Anderson feels that for most big businesses like Goldman Sachs or Citigroup, London is the financial capital, which provides a gateway for nearly all of Europe. Without the unregulated access, the free flow of capital, resources, talent and goods and services would have to be renegotiated, making it difficult for the European nations. The financial industry is said to be the most affected since it accounts for about 7 percent of Britain’s gross

More about If Scotland Goes, Bankers Fear Britain Could Exit The European Union

Get Access