The next major financial event seems to be taking place in the United Kingdom where talk of a “Brexit” has hit front page news.
England has been reviewing an exit from the Eurozone for some time but governments until now were wary of going it alone and have pulled back from making the move. On the forefront now is the possibility that a retreat from the euro would result in a new attempt at an independence referendum for Scotland.
According to Nicola Sturgeon, the First Minister of Scotland, "If the U.K. makes the decision to leave the EU and Scotland takes a different view, then inevitably I think people will think perhaps it's time to be independent so that we can preserve our membership in the EU, because is very important economically."
New Referendum Possible
British Prime Minister David Cameron is willing to rethink the possibility of a “Brexit” and a decision would probably not be taken till the end of 2017. Fears of the possibility of Britain quitting the 28-country economic community run deep and the move would involve all of the U.K. leaving at once, thereby taking Scotland, Wales and Northern Ireland with it. If that were the case, a vote by Scotland to secede from the United Kingdom now would be a positive move.
In a referendum taken last September, the Scottish voters rejected the idea of independence from the U.S. with the 'No' camp gaining 55.4 percent of the vote, against 44.6 percent in favor of independence. With renewed talk of a “Brexit” a second referendum might have a different result.