Athens of the North

They used to call Edinburgh the “Athens of the North”.

It looks like those days might well be back soon for Scotland as a whole, under SNP governance. The effect of their distaste of what they call “austerity” (it used to be called “living within one’s means”) is that they will soon be as broke as Greece; see eg http://www.businessinsider.com.au/scotland-faces-500-million-black-hole-in-local-government-spending-2016-11?r=US&IR=T.

The question is whether or not they will soon be under the same German fiscal domination as Greece? They already be there if they had voted for independence from the UK. Under the Barnet Formula, they get substantial subsidies from England, paying less tax but getting bigger hand-outs. Hard to see that the Romanians, or for that matter the Greeks,  would vote for anything similar if Scotland were to leave the UK and join the EU.

 

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