Let’s presume that a Yes vote carries the day and we start the process of negotiation with the cUK, to become fully independent on 24/3/2016. Let’s further presume that cUK agrees to a formal currency union on acceptable terms to both foreign countries, we can now use the pound.
NATO are sanguine about Trident and the transitional arrangements for fixed nuclear assets being relocated, along with jobs, within the cUK (costs born by us no doubt, as it’s not the cUK’s wishes to move), so they agree formally to recognise us as a separate nation state. The UN welcome us with open arms, we only lose our voice at the Permanent Security Council, as we are too small for that (let’s hope it does not jeopardise the cUK’s position).
We start the process of applying to join the EU, hmm, this is not going to be so easy, they want us to agree to using the Euro before getting a vote. We also need a unanimous vote from all 28 member states. Spain and Denmark are grumbling about setting precedents, they have difficult separatist movements of their own to contend with, as do, surprisingly, a lot of member states (http://goo.gl/t7DmjX). In fact, our success in becoming independent has really fired up separatist movements throughout Europe. Hmm, this might take a little while, maybe 3, 4 or 5 years?
Oh, and while we are negotiating the EU has said that cUK has to change it’s EU status as well, rebate needs to be downgraded, MEP’s reduced, council votes reduced. We thought cUK would help in our EU negotiations, but they are looking a bit self interested now, perhaps the EU will use this situation to screw us both?
In the meantime cUK is our lender of last resort, control our interest rates and quite rightly spending levels, only fair and right for the security they provide and for allowing us to print Scottish currency. And of course they are still holding the Scottish Banks debt on our behalf, great neighbours.
Also in the meantime we are not members of the EU, have not got trade advantages, lost subsidies, lost our MEP’s, have no EU employees, no grants, no EU law protection, all gone.
It’s all very complicated, but I’m sure it will all be all right, we are a rich country anyway. What? The UKCS Oil industry is struggling, oops.
http://www.oilandgasuk.co.uk/cmsfiles/modules/publications/pdfs/EC040.pdf April 2014 UK Oil & Gas Voice of the Offshore Industry