Deutsch bank chief warns of dangers of Yes vote. The Scotsman

SCOTTISH INDEPENDENCE: The financial and economic arguments against Scottish independence are “overwhelming”, a leading bank warned as it compared a Yes vote to the mistakes which led to the Great Depression of the 1930s.

In one of the starkest warnings yet issued by a financial institution, the chief economist at Deutsch Bank David Folkerts-Landau said voters and politicians had failed to grasp the potential severity of the negative consequences of separation.

He said he found it “incomprehensible” that Scots were even contemplating withdrawal from the United Kingdom, and pointed to the “recessions, higher taxes, lower public spending and higher interest rates” that had afflicted nations seen as potentially heading for the eurozone exit.

But the Scottish Government accused him of failing to take into account Scotland’s “strong fiscal position”, and said it would start life as an independent nation “from stronger economic foundations than any other nation in history”.

In a highly-critical analysis of the prospects of independence, Mr Folkerts-Landau said: “Everyone has the right to self-determination and to exercise his or her democratic rights.

“But there are times when fundamental political decisions have negative consequences far beyond what voters and politicians could have imagined. We feel that we are on the threshold of one such moment.

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Brian Wilson: Secession leads to a dangerous end, The Scotsman

THE offer of a package of powers for Holyrood should have happened earlier, but at least it has happened now, writes Brian Wilson

AS, MERCIFULLY, the finishing line approaches, there is one phrase which stands out in my over-loaded recollection of the Scottish referendum campaign. It came from Pope Francis and he was not speaking specifically about Scotland, so much as division of countries and peoples in general.

The critical distinction he drew was between “independence for emancipation and independence for secession”. In a more intellectually demanding age, every nuance of the debate would have been measured against that yardstick. What exactly are we being asked to liberate ourselves from, and at what human cost, risk and precedent?

I was reminded yet again of the Pope Francis test when Alex Salmond, chief architect of division, this week drew an astonishing analogy between people registering for the Scottish referendum and “the scenes in South Africa…when people queued up to vote in the first free elections”. Here, surely, we were listening to a man operating at the delusory limits of self-aggrandisement.

To claim comparison between the suffering of South Africa’s black population, on the basis of institutionalised racism, and the position of Scotland within the UK is ludicrous and offensive. Disappointing though it may be to his followers, Mr Salmond is not the Biko of Banff but a shrewd populist who is adept at pressing buttons which would be best left unpressed and at driving wedges where none need exist.

Having wrapped himself in the flag that used to belong to all of us, Salmond wants us to take sides between “Team Scotland” and “Team Westminster”. Within that not very subtle code lies the insidious folly of what he is promoting. Everyone who follows him is, by definition, in “Team Scotland” while dissenters are branded as supporters of a hostile, alien entity.

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How SNP once kicked out 'royal hating' Salmond: Scottish National Party leader was once member of Republican faction expelled from party in the 1980s, Daily Mail

Salmond part of Republican faction expelled from SNP in 1980s

The 79 Group wanted to set up Scottish Socialist republic

Removal of Queen as Scotland's head of state one of its founding principles

Fervent Republicanism contrasts to his current support for the Queen

Alex Salmond was a leading member of a Republican faction that was expelled from the Scottish National Party in the 1980s.

The 79 Group – named after the year in which it was formed – wanted to set up a Scottish Socialist republic and spent several years fighting for more radical policies within the SNP. 

The removal of the Queen as Scotland’s head of state was one of its founding principles.

The group even had links with Irish republican party Sinn Fein at the height of the Troubles in Northern Ireland.

Mr Salmond was one of its three spokesmen and took responsibility for publicity. He argued for greater militancy among workers, and advocated direct action including civil disobedience, according to his biographer, David Torrance.

‘I think Her Majesty the Queen, who has seen so many events in the course of her long reign, will be proud to be Queen of Scots as indeed we have been proud to have her as the monarch,’ the SNP leader said this week. But earlier this year, Mr MacAskill suggested there could be a referendum on scrapping the monarchy if Scots vote Yes.

He said in March: ‘We will inherit the situation we have with the Queen as head of state in the ceremonial capacity that she has. But it will be for the people of Scotland to decide.

‘If and when that would occur, if they wished to have a referendum, and we would hope we would become the government post-2016, it will be for whoever is in office then.’

The 79 Group, which was formally known as the ‘Interim Committee of the 79 Group Socialist Society’, was formed after the 1979 referendum asking Scots whether they wanted their own Scottish Assembly with devolved powers.

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