Examine from an economic perspective Scotlands position in Europe in Essay

Examine from an economic perspective Scotlands position in atomic number 63 in relation to the recent Scottish license referendum. ground upon your analysis which way should we have voted - Essay ExampleTo begin with, the Scotlands referendum vote in 2014 was a historic turning point for the entire Britain and Europe as a whole. Many political leaders and other influential leaders stood up to oppose the independence of Scotland, pointing out the negative impacts that this could cause to the European economy (Castells 2014, p. 23). For instance, this response was motivated by many leaders due to the fear that separation of Scotland from Europe would worsen the economic predicaments not only in Europe but also drag the entire United Kingdom. Amid predicted that a Yes Vote to Scotlands independence would result in a decrease in the pounds value to 15 percent, which is approximately 17 billion pounds of UK shares (Tindal, McCollum & Bell 2014, p. 89). Bonds as well as other financial a ssets were already sell by investors, thus negatively affecting the European economy at large (Furby 2012, p. 67). For instance, the Times revealed that the fear of Scotlands independence resulted in sell-off of many British investments.One of the impacts of independence referendum is all about oil merchandise. U.K is the leading producer of oil in Europe and most of its oil comes from areas that Scotlands independence claimed. The independence of Scotland from this perspective would cause a lot of harm to the economy of Europe. United Kingdom is likely to grab a share of the current oil production and reserves. This will result in Scotland remaining with oil that is worth 1.5 trillion.Secondly, massive financial industry of Scotland seems ready to collapse if voters could prefer a Yes vote. The biggest banking and insurance companies such(prenominal) as RBS (Royal Bank of Scotland) had decided to move their headquarters, including other departments of their operations to England i f the voters of Scotland had chosen independence. The financial sector offers employment to approximately 100,000