jeudi, mars 06, 2014

Lesley Riddoch: Big Business and its warnings of a Yes Armageddon

Big Business and its warnings 
of a Yes Armageddon
by Lesley Riddoch (6 March 2014)

So LLoyds Banking Group, Barclays and Shell have joined RBS and Standard Life to warn that Scottish independence could destabilise business.

Lloyds annual report fears an independent Scotland might have a poorer credit rating than the rest of the UK so the cost of borrowing on international markets might rise.  A bit rich you might think, coming from a company whose disastrous management has meant massive borrowing from the domestic taxpayer – but let's leave that to one side.

One can only presume that good news about iScotland's possible triple A credit rating didn't reach them before Lloyds went to press.  Credit rating agency Standard and Poor's reported last week that an independent Scotland would "qualify for our highest economic assessment" after a thorough survey of the economy – including those dangerously changeable oil revenues -- and the risk that some banks might leave.

Read full article HERE