Scotsie 100

The Scottish independence debate has so far been characterised by a poverty of original clear thinking.  The paper below by Paul Marsh, Emeritus Professor of Finance at the London Business School and Scott Evans of Walbrook Economics, about the merits of Scottish independence from a stock market perspective, changes the tone somewhat. In it, they soberly de-construct how Scotland would have fared since 1955 with its own stock exchange and how it would fare as an independent country.

With the clock running down we urgently need more input of similar calibre. One could be forgiven for thinking that the actuality of the situation is that Salmond & Co are dreading the "Oh bugger, that wasn't supposed to happen, what now?" moment if they actually do win while one might be left to think that Cameron & his playmates, latterly supplemented with a squadron of clickty-clack heeled media friendly thirty-something women junior ministers, won't shed a tear because the embedded Labour majority at Westminster will be gone forever.