Richard Branson Warns Scottish About Catastrophic Yes Vote

The founder of Virgin Group has already made clear his worries about independence in a blog he wrote last Friday.

He went considerably further with me, saying that the consequences are “potentially quite catastrophic”.

“The big problem with Scottish independence is that there are so many imponderables – we don’t know what the situation is going to be like afterwards,” Sir Richard said.

“To me it’s a bit like a divorce: both sides get hurt. And I think its best not to have a divorce.”

Despite his opposition to independence, he had warm words for Alex Salmond, the First Minister.

“I think Alex Salmond has done an absolute blinder in what he has achieved to date.

“[But] I think that for the sake of the Scottish people and those people below the border I think it would be better if a lot more powers were devolved to Scotland [and] that independence does not happen because I think the consequences are potentially quite catastrophic.”

He also raises an intriguing possibility. If Devo-Max is thought not to have worked following a No vote on Thursday, then Scotland could have another independence referendum within a decade.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza