The HQs moving

[Corranga]

There's going to be sooo many scare stories popping up this week. I feel you should vote what ever way you believe to be best in the long run, not what you've been scared into.

I agree.

All politicians are full of crap and will do/say what ever they can to weasel a vote.

Absolutely.

England stand to lose a lot of revenue if Scotland go solo and they really don't want that... This society is so greed lead and money driven it's scary.

This is as bad as scaremongering! If you're going to post something that tries to take the high ground such as:

lets all just vote what we want, live and let live, all get along and deal with what will be.

Have a nice day y'all!

You should at least remove ALL bias from it.
I'd go with something like:
The UK stand to lose a lot if Scotland go solo. It'll lose a large part of its country. It'll lose Scotland, and they really don't want that..

[mwmackenzie]

There's going to be sooo many scare stories popping up this week. I feel you should vote what ever way you believe to be best in the long run, not what you've been scared into.

I agree.

All politicians are full of crap and will do/say what ever they can to weasel a vote.

Absolutely.

England stand to lose a lot of revenue if Scotland go solo and they really don't want that... This society is so greed lead and money driven it's scary.

This is as bad as scaremongering! If you're going to post something that tries to take the high ground such as:

lets all just vote what we want, live and let live, all get along and deal with what will be.

Have a nice day y'all!

I agree.

You should at least remove ALL bias from it.
I'd go with something like:
The UK stand to lose a lot if Scotland go solo. It'll lose a large part of its country. It'll lose Scotland, and they really don't want that..

[Rosssco]

if RBS and the rest quit, that will leave Scotland without an credible bank, and to put it bluntly, that's going to be a major problem (quite apart from any jobs that may or may not move).

more generally, anybody that believes Scotland will be better off independent is living in dream land.

Who said anything about "quitting"? A bank is a business and they will move to wherever is going to put them in the best place to make money. No bank worth their salts does the majority of their business in Scotland and anyone who thinks it is, it being naive. Just because a company is based somewhere, does not mean that's where their business is.
Think about all the foreign banks that we use in the UK. Do we deal with them any differently than we do a UK bank? Of course not and this will be exactly the same.

If moving to London means that they will be more likely to earn money and serve Scotland better, then as far as I'm concerned that's a good move.

You are missing the point Bob, that being the likes of RBS have the majority of customers and major operations (where they actually make their money, not retail banking) outside Scotland already. They are primarily headquartered in Scotland as that where thet original from. However, given the uncertainly looming depending which way we vote, they may take the completely pragmatic view to re-register in London so they can ensure they retain current UK financial arrangements and a credible central bank arrangement. People employed by them will be ok for the time being, but when the company comes to reassess its global operations, it will have signifncantly lower footprint in Scotland, meaning they could well wonder why they are still here? Don't expect any emotional attachment - its RBS in name only really..

[campbell]

Campbell, I am not sure about the HQ having to be in biggest market, I believe the RBS wants to move simply to remain within the (existing) UK regulations and avoid any credit rating issues that may arise from the post-independence Scottish currency issue.

I heard it on Radio Scotland a few months ago. Take that as you will !

[Scuffers]

if RBS and the rest quit, that will leave Scotland without an credible bank, and to put it bluntly, that's going to be a major problem (quite apart from any jobs that may or may not move).

more generally, anybody that believes Scotland will be better off independent is living in dream land.

Who said anything about "quitting"? A bank is a business and they will move to wherever is going to put them in the best place to make money. No bank worth their salts does the majority of their business in Scotland and anyone who thinks it is, it being naive. Just because a company is based somewhere, does not mean that's where their business is.
Think about all the foreign banks that we use in the UK. Do we deal with them any differently than we do a UK bank? Of course not and this will be exactly the same.

If moving to London means that they will be more likely to earn money and serve Scotland better, then as far as I'm concerned that's a good move.

point and missed.

without a strong reliable central back behind them, no bank can make decent progress as their credit worthiness will be servilely compromised.

at a personal level, no more bank guarantee if they go tit's up.

suddenly puts a whole new perspective on it...

then consider the effects of Salmon saying that they will leave their part of the national debt with the BOE means that no bank will ever lend them money at anything like a decent rate.

come on, anybody with half a idea how finance works can see that the SNP plan is non-existent and financially, Scotland will be screwed, all the banks are doing is making sure they are on the right side of the border before the sh*t hit's the fan.

[mwmackenzie]

if RBS and the rest quit, that will leave Scotland without an credible bank, and to put it bluntly, that's going to be a major problem (quite apart from any jobs that may or may not move).

more generally, anybody that believes Scotland will be better off independent is living in dream land.

Who said anything about "quitting"? A bank is a business and they will move to wherever is going to put them in the best place to make money. No bank worth their salts does the majority of their business in Scotland and anyone who thinks it is, it being naive. Just because a company is based somewhere, does not mean that's where their business is.
Think about all the foreign banks that we use in the UK. Do we deal with them any differently than we do a UK bank? Of course not and this will be exactly the same.

If moving to London means that they will be more likely to earn money and serve Scotland better, then as far as I'm concerned that's a good move.

point and missed.

without a strong reliable central back behind them, no bank can make decent progress as their credit worthiness will be servilely compromised.

at a personal level, no more bank guarantee if they go tit's up.

suddenly puts a whole new perspective on it...

then consider the effects of Salmon saying that they will leave their part of the national debt with the BOE means that no bank will ever lend them money at anything like a decent rate.

come on, anybody with half a idea how finance works can see that the SNP plan is non-existent and financially, Scotland will be screwed, all the banks are doing is making sure they are on the right side of the border before the sh*t hit's the fan.

Errrrrrm who bailed the ROI out? UK?? erm are they part of the UK, nope?

We'll just call our mates at Westminster if it goes tits up hahahahahaha...

[thinfourth]

Fair enough, but can't help but think that with around 50% of Scotland (at the moment) in favour of a 'yes' vote, they're going to disgruntle many of their customers.

If it's a 'no' next week, I wonder how many of these customers will be moving their accounts / mortgages / pensions etc

To where?

As I can't think of any truly scottish banks

[David]

The trouble is that less than 4% of the UK population are Yes voters so upsetting a few of them is insignificant. Sooner of later we need to wake up the fact that business will go where their market is, and that is generally the single market of the UK. Put up barriers and geography will start to reflect on the balance sheet.

[Fluoxetine]

Fair enough, but can't help but think that with around 50% of Scotland (at the moment) in favour of a 'yes' vote, they're going to disgruntle many of their customers.

If it's a 'no' next week, I wonder how many of these customers will be moving their accounts / mortgages / pensions etc

To where?

As I can't think of any truly scottish banks

Indeed - And as has since transpired, (it's claimed) these moves are nothing more than administrative - One of the companies I worked for in Aberdeen moved their registered office to the UAE, and transferred our contracts with it. We didn't assume that they were pulling out of Aberdeen, and still dealt with the Aberdeen office 100% of the time, but for tax purposes (employers N.I. contributions) it saved the company money.

My point is that when the likely 'no' vote comes next week, many of the 'yes' lot will have negative associations with these companies - Some may move money (although as suggested above, many will not, due to hassle) and many will shop at other supermarkets.