Best of the Week
Most Popular
1.The Brexit War! EU Fearing Collapse Set to Stoke Scottish Independence Proxy War - Nadeem_Walayat
2.London Terror Attack Red Herring, Real Issue is Age of Reason vs Religion - Nadeem_Walayat
3.The BrExit War, Game Theory Strategy for What UK Should Do to Win - Nadeem_Walayat
4.Goldman Sachs Backing A Copper Boom In 2017 - OilPrice_Com
5.Trump to Fire 50 US Cruise Missiles To Erase Syrian Chemical Attack Air Base, China Next? - Nadeem_Walayat
6.US Stock Market Consolidation Time - Rambus_Chartology
7.Stock Market Investors Stupid is as Stupid Goes - James_Quinn
8.Gold in Fed Interest Rate Hike Cycles- Zeal_LLC
9.The BrExit War - Britain Intelligence Super Power Covert War With the EU - Nadeem_Walayat
10.Marc Faber: Euro to Strengthen, Dollar to Weaken, Gold and Emerging Markets to Outperform - MoneyMetals
Last 7 days
What A War With North Korea Would Look Like - 25th Apr 17
Pensions Are On The Way Out But Retirement Funds Are Not Working Either - 25th Apr 17
Frank Holmes : Gold Could Hit $1,500 in 2017 Amid Imbalances & Weak Supply - 25th Apr 17
3 Reasons Why “Spring Forward, Fall Back” Also Applies To Gold - 25th Apr 17
SPX may be Aiming at the Cycle Top Resistance - 25th Apr 17
Walmart Stock Extending Higher - Elliott Wave Trend Forecast - 25th Apr 17
Google Panics and KILLS YouTube to Appease Mainstream Media and Corporate Advertisers - 25th Apr 17
Gold Price Is 1% Shy of Ripping Higher - 25th Apr 17
Exchange-Traded Funds Make Decisions Easy - 25th Apr 17
Trump Is Among The Institutionally Weakest National Leaders In The World - 25th Apr 17
3 Maps That Explain the Geopolitics of Nuclear Weapons - 25th Apr 17
Risk on Stock Market French Election Euphoria - 24th Apr 17
Fear Campaign Against Americans Continues Nuclear Attack Drills in New York City - 24th Apr 17
Is the Stock Market Bounce Over? - 24th Apr 17
This Could Be One Of the Biggest Winners Of The Electric Car Boom - 24th Apr 17
Le Pen Shifts Political Landscape- The Rise of New French Gaullism  - 24th Apr 17
IMF Says Austerity Is Over - Surplus or Stimulus - 24th Apr 17
EURUSD at a Critical Point in Wave Structure - 23rd Apr 17
Stock Market Grand Super Cycle Overview While SPX Correction Continues - 23rd Apr 17
Robert Prechter Talks About Elliott Waves and His New Book - 23rd Apr 17
Le Pen, Melenchon French Election Stock, Bond and Euro Markets Crash - 22nd Apr 17
Why You Are Not An Investor - 22nd Apr 17
Gold Price Upleg Momentum Building - 22nd Apr 17
Why Now Gold and Silver Precious Metals? - 22nd Apr 17
4 Maps That Signal Central Asia Is at Risk of War - 22nd Apr 17
5 Key Steps For A Comfortable Retirement From Former Wall Street Trader - 22nd Apr 17
Can Marine Le Pen Win? French Presidential Election Forecast 2017 - 21st Apr 17
Why Stock Market Investors May Soon Be In For A Rude Awakening - 21st Apr 17
Median US Household’s Wealth Has Declined by 40% Since 2007 - 21st Apr 17
Silver, Platinum and Palladium as Investments – Research Shows Diversification Benefit - 21st Apr 17
U.S. Stock Market and Gold, Post Tomahawks and MOAB - 21st Apr 17
An In Depth Look at the Precious Metals Complex - 20th Apr 17
The Real Story of China’s Strong First-Quarter Growth - 20th Apr 17
3 Types Of Life-Changing Crisis That Make You Wish You Had Some Gold - 20th Apr 17
The Truth is a Dangerous Thing - 20th Apr 17
2 Choke Points That Threaten Oil Trade Between Persian Gulf And East Asia - 20th Apr 17
Gold’s Next Downside Target Is Around $700… Even if It Breaks Up First - 19th Apr 17
SPX May be Completing its Corrective Pattern - 19th Apr 17
Silver Production Has “Huge Decline” In 2nd Largest Producer Peru - 19th Apr 17
Soothing East Asia's Nerves as Trump's Administration Reaffirms US Power in Asia-Pacific - 19th Apr 17
The Brexit War - Article 50 Triggered, General Election 2017 Called - Let the Games Begin! - 19th Apr 17

Market Oracle FREE Newsletter

Why 95% of Traders Fail

Ukraine 2014, Britain 2016, Scottish Independence Could Trigger Balkanisation of UK

Politics / UK Politics Feb 21, 2014 - 03:17 AM GMT

By: Nadeem_Walayat

Politics

Peaceful demonstrations in Ukraine's capital city Kiev, of barely a few days ago are fast descending into the chaos towards outright civil war as Ukraine is literally tearing itself apart as several regions in the north-west such as Lviv declare independence, whilst the south-east stands behind its democratically elected President.


What was unimaginable a few weeks ago has now become a crisis situation of mounting deaths, where with each death Ukraine takes a further step towards leaping over the edge of and into the abyss of where the likes of Syria stands today, as the consequence of what happens when nations rip themselves apart.

Ukraine tearing itself apart has huge implications for european stability as the conflict risks sparking unrest in bordering states most of which have their own separatists movements, especially Russia which therefore looks set to intervene militarily.

Independant Scotland Debt Flash Point

Meanwhile divisions in Britain are being fostered by the likes of the SNP in its tunnel vision quest for their supreme leader, Alex Salmond to gain total power over the Scottish people, who continues to lay down demands which are increasingly seen as outrageous by the rest of the UK, such as to have a say in Bank of England Monetary policy, have joint control over the British Pound including the ability to print sterling debt (effectively parking a trojan horse outside the Bank of England), and to claim a stake in a share of UK assets outside of Scotland whilst threatening that non compliance would mean that Scotland would not take on any of its fair share of UK debt that totals approx £120 billion, that has been spent on Scotland to date.

Alex Salmond's debt default statements are akin to someone borrowing money from the bank to build a house and then declaring that they did not owe the bank anything, by rights the bank could repossess the property, and similarly the UK could seize Scottish assets on paper to the tune of £120 billion, effectively freezing the assets and thus restricting their use and resale.

Of course such an action would be seen as outrageous by the Scottish people and flame the fires of conflict as it would sow much discontent between Scots and the 1/2 million settled English in Scotland, just as is the SNP's statements of not taking on £120 billion of debt to people south of the border.

This is just one example of how the SNP and Independant Scotland would sow the seeds of conflict between North and South Britain.

The Balkanisation of Britain

Alex Salmond and his merry band of scottish nationalists quest for dominance over a small part of the Island of Britain have failed to calculate that they will no longer have Westminister to blame for this, that, or other latest socialist deficit spending induced crisis. Which implies that the first port of call for disintegration will likely be in Scotland itself, as a vote for Independence at best would only marginally carry more than 50% of the votes. Therefore the Scottish nationalist government would within a couple of years start to hear highly vocal demands from parts of Scotland to rejoin the United Kingdom, the refusal of which could trigger the start of civil conflict, which as we have seen in Ukraine and elsewhere that it does not take much for crisis to spiral out of control.

As for the rest of the UK, unfortunately Scotland attempting to tear itself away from the United Kingdom would set in motion a chain of events that would destabilise the whole Island of Britain as many separatist movements would be emboldened to exaggerate their own sense of injustice mostly based on semi-mythical histories and as remedy seek their own autonomous or even independent states, such as Wales, Cornwall, Mercia and off course heavily subsidised Northern Ireland.

Scottish independence would result in increasingly chaos across the Island, as growing civil unrest would spread as a contagion infecting many other regions of Britain.

The first consequences of the start of UK fragmentation would be in the economic arena as regions would seek to exert greater autonomy and thus increasingly implement differing rules and regulations that would disrupt economic activity that would further accelerate the breakup of the Union as regions would continuously become poorer thus blame others for their circumstances and see further separation as the solution.

The European Union fears this which is why senior EU politicians have been lining up one after another to state that contrary to SNP propaganda, an Independant Scotland would not be fast tracked into the EU, for they understand that just as a disintegrating Ukraine would destabilise the whole eastern european region so would a disintegrating UK destabilise many western EU nations such as Spain, France, Belgium and Italy all of whom have their own separatists movements.

It would be difficult, if not impossible, for Scotland to join the European Union - European commission president José Manuel Barroso

The bottom line is that Scottish Independence would open a Pandora's box that would result in a state of Britain that is far removed from the rose tinted glasses picture that the likes of the SNP are painting today, because the UK has always been MORE than the SUM of its parts. Therefore a fragmented UK will be far LESS in EVERY respects than that which the UK is today.

Source and Comments: http://www.marketoracle.co.uk/Article44516.html

Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2014 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series.that can be downloaded for Free.

The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 600 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Yuriy
23 Feb 14, 12:18
Ukraine vs UK

There will be no break-up in Ukraine.

Civil war is not possible, as people either support opposition, or do not support regime.

You cannot compare Ukraine and UK. The better comparison is UK and Russia: 2 ex-empires built on blood of others. Well, UK is like Russia in maybe 50-80 years. Scotland and England is like a little example of Russia and Ukraine.

The best way out of Scotland is to separate from UK but stay in EU. No much will change. This will be yet another stimulus for England to stay in EU ;-)


Nadeem_Walayat
24 Feb 14, 07:28
Ukraine vs Uk vs Syria

three years ago....

There will be no break-up in Syria.

Civil war is not possible, as people either support opposition, or do not support regime.

Sorry Ukraine is inherently more unstable than the UK, though yes Scottish Independence would open a Pandora's box in the UK.

Best

NW


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife