Would an independent Scotland go same way as Ireland and Iceland?

The North Sea oil is pretty much finished and at the moment the opinion polls sugest 52% of Scots would vote against independence, 35% would vote for it and the rest are Dont Know.

Alex Salmond has even said a referenum would not happen until well into the second half of hs administration term.

Truth is Scotland was largely motivated to give up its independence in The Act of Settlement of 1701 because it was bankrupt and was effectively rescued by England after its disasterous investment in the Darien Scheme that had hoped to transform Scotland into a major world trading power by investing in Panama.

The financial rescue of the Scottish banking system after the fiancial crisis of 2007 by the merger of the two major Scottish banking groups with two Engish institutions has an erie histotical parralel. The Darien Scheme was, in effect a failed attempt by Scotland to become a World financial power. In essence, the 2007 financial crisis exposed another scheme of hubris in which two major Scottish institutions in effect attempted to be become major global banks. A sort of 21st Century Darien Scheme.

The Scottish economy is simply not big enough or diverse enough to be self sustaining as an independent nation - unless it wishes to become an offshore tax haven. Even then places like Guernesy and Jersey are still dependent on the Bank of England to maintian ultimate financial stability and currency convertabilty.

It seems to me that allowing Scotland its own tax raising powers with it sown Parliament but still being part of the UK might be the best solution for all concerned. Satisfying Scotish desire for autonomy while maintaining the benefits of other political, defence and constitutional links.

Though she has a point: until the terms of the "divorce" settlement are known, it's not going to be possible to make even the wildest stab at likely financial health of the newly independent country. Claim and counter claim about whether or not Scotland is a net contributor are set to run and run. Then you have to allow for all those things like defence and foreign relations which would be disproportionately expensive for a small country.

But we should care - because without some idea of the important elements of a final settlement I simply do not see how the voting public can decide (other than on sentiment) whether or not independence is the right option at the right time.

Why are you posting on a thread you don't care about smallwhitecat ? I suggest you take your own advice.

Is Norway struggling? (I know it's not part of the EU btw)

I'm sure someone's quoted a stat on another thread this week that Scotland puts more into the UK economy that it takes out.

If the Union splits Scotland would probably have to take with it a proportion
of the debt.

Also North Sea Oil is not the only source of wealth in Scotland. There is farming, manufacteuring inc pharmaceuticals, higher education, tourism, renewable energy, sport, media, publishing, alcohol esp whisky, medical research, transport, fishing and a large service sector. It isn't a one-dimensional economy.