Wings Over Scotland

This week’s Scotland on Sunday is full of the usual outpourings of fear and madness (our absolute favourite is a standout piece of howling-at-the-moon insanity from frothing Tory loonbag Gerald Warner, magnificently entitled “Feminism driving holocaust of abortion”), but one in particular caught our eye.

Headed “Independent Scotland at risk from bank crash“, the Tom Peterkin effort (based, in fairness, on an imminent UK government document) kicks straight off with an opening line that’s a top-shelf example of hysterical sub-Daily-Mail scaremongering. But it’s the second line that makes it special.

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We got an email from our Prague correspondent last night, but that’s not the only thing the disgraceful pun in the headline refers to. As Michael Moore was kicked around the playground by Nicola Sturgeon in the first Scotland Tonight debate that same evening, the soggy security blanket he clung to more than anything else was the currency issue, which the No camp appears to believe is now its most powerful weapon.

It’s a two-pronged Trident, if you’ll forgive the even more tortured wordplay in that metaphor. Firstly there’s the scaremongering part containing the (empty) threat that the rUK would refuse to enter a currency union with an independent Scotland, forcing it to join the embattled Euro, and as back-up there’s the claim that if we DID get a currency union, Scotland would somehow end up getting less consideration from the Bank of England governors when it came to monetary policy than the none it gets now.

Let’s take the briefest look we can manage at both of those assertions.

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We’re indebted to the alert reader who sent us a link to this last night:

If you don’t have time to sit through it all now, it’s an STV referendum debate – not about independence in 2014, but about devolution in 1997. In short, all the arguments and dire warnings we’re fed by Unionists now about independence were also deployed against devolution, which doesn’t in fact seem to have caused the sky to fall in.

It’s also interesting to note a BBC news story uncovered by National Collective this morning which reports a poll finding that “76% of businesses believe a double-yes vote in Thursday’s referendum would harm the climate for business in Scotland”.

While right-wing, conservative organisations like the CBI and FSB will doubtless never stop bleating about the terrible “uncertainty” of constitutional change, it’s good to see that there’s been at least some progress made in that field.

Hang on. The heart of the latest No campaign/media scare story is that the enormous pension deficit currently looming over the UK like a great big multi-billion-pound fiscal sword of Damocles (but which everyone is feverishly avoiding looking at) will become much more urgent in the event of Scottish independence, because according to EU rules “cross-border” pensions can’t just boot the problem into the long grass for years, and have to ensure any shortfall is funded immediately.

EU rules? But haven’t the Unionists spent most of the last six months telling us that an independent Scotland wouldn’t be an EU member, and would have to wait years at the back of the queue to join as a new country? Phew! Problem solved!

We know you don’t have all day. Let’s see if we can clear this up in under 600 words.

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We’ve taken quite a lot of cold medication this week, readers, and it’s caused us to have a bit of an epiphany. We’ve realised that our constant advocacy of independence is a recklessly optimistic position which takes no account of the very real dangers of separating Scotland from the rest of the UK (and the world), and that in order to be responsible citizens we ought to present a more balanced picture.

We’ve decided, therefore, to use this page to keep track of the numerous and often serious potential consequences of a Yes vote in 2014, as helpfully pointed out by our concerned countrymen south of the border and the cooler heads in our own land.

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