Did I quote someone endorsing tougher regulation? If so, I wasn't endorsing tougher - or less tough - banking regulation, it's not something I really know enough about to be able to comment. My position would just be that Scotland could implement whatever standards of regulation it wanted, political parties here would choose their positions and be elected on their manifestos. I agree the regulation for UK has resulted in massive problems btw, so I'm not averse to better regulation at all.klr wrote:But ... if an independent Scotland implements more stringent regulation of the banking sector (as per the quote in your last post), would that remain the case?ronmcd wrote:Good point, and to be even more pedantic, Edinburgh already IS the "london of the north", at least in terms of financial services. Scotland is the most attractive place in UK for investment outside London, I beleiveklr wrote:Oi! We're not finished yet. Stop writing our epitaph.devogue wrote: ...
Scotland has natural resources NZ can only dream of (even if it only got a pro rata 9% of North Sea resources after independence). It is incredibly well placed geographically. It can learn the lessons of Ireland's demise, and the reasons for its initial success. It can create its own dynamic economy by opening its English speaking shop right next door to England - why shouldn't Glasgow become a London of the north?
What a fantastic opportunity - I think the Scots would be scared fucking pussies if they turned down this once in ten lifetimes chance.
Face the wind!
Make no mistake: I would heartily endorse much tougher regulation of the banking and investment sector. But the current UK government - prompted by the "City" - doesn't want that at all, purely out of self-interest.
edit- Yup, you're right, the Blair Jenkins quote talked of lax regulation.