Independent Scotland faces 'capital flight' - Deutsche

An independent Scotland would face a "capital flight" if it did not retain the pound, according to analysts at Deutsche Bank.

The bank said Scotland could face a similar scenario to that seen after the fall of the Berlin Wall, as money flowed unchecked out of former communist countries.  “If Scotland votes 'yes' in September there will be a substantial amount of negotiations which need to be conducted, the most important financially being the choice of monetary regime, allocation of oil revenues and apportionment of public debt,” said George Buckley, the firm's chief UK economist.  With Chancellor George Osborne ruling out a currency union, attempts to create a new currency would prove difficult, he continue...