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19 Sep 2014
Scots vote no to independence but some political issues still pending resolution - Deutsche Bank
FXStreet (Łódź) - Deutsche Bank Chief UK Economist George Buckley comments on the result of the Scottish referendum, saying that even though the "no" camp won, some thorny political issues still have to be resolved.
Key quotes
"He writes that the impact on the financial markets (particularly sterling) was always going to be asymmetric – sizably negative had it been a Yes vote but a modest relief rally in the event of No – which is what we have seen this morning."
"Looking ahead George writes that despite the No vote there are still some thorny political issues to resolve as promises have been made for more Scottish devolution which in turn has led to calls for Scottish MPs in the UK parliament to be stripped of their powers to vote on English-only affairs. This could prove tricky."
"Looking around Europe, George concludes by noting that while a Scottish Yes vote may have boosted Catalan’s pro-independence movement, the fact that a Scottish referendum was granted in the first place has drawn more attention to the Catalan issue."
Key quotes
"He writes that the impact on the financial markets (particularly sterling) was always going to be asymmetric – sizably negative had it been a Yes vote but a modest relief rally in the event of No – which is what we have seen this morning."
"Looking ahead George writes that despite the No vote there are still some thorny political issues to resolve as promises have been made for more Scottish devolution which in turn has led to calls for Scottish MPs in the UK parliament to be stripped of their powers to vote on English-only affairs. This could prove tricky."
"Looking around Europe, George concludes by noting that while a Scottish Yes vote may have boosted Catalan’s pro-independence movement, the fact that a Scottish referendum was granted in the first place has drawn more attention to the Catalan issue."