Bow Group Chairman Ben Harris-Quinney said that if Scotland left the United Kingdom, it could be resemble Greece, post financial crisis, in terms of national debt.

Read the full article here at the Daily Express

The Bow Group chairman told The Express: “If Scotland left the union there would definitely have to be a settlement deal to separate the two nations decisively.

“Scotland has a significant share of UK national debt, and there are several major UK assets in Scottish territory like North-Sea oil/gas, military bases, and Crown territory.

“At a minimum there would have to be a negotiation on ownership of property and payments in either direction to unbind these areas.

“Key elements would also be trade and currency.”

Ben Harris-Qiunney continued: “The SNP has previously suggested the share of national debt would be calculated on a per capita basis, which would mean Scotland would owe the UK c.£205billion on core national debt, and potentially c.£380billion on total liabilities.

“That would place Scottish debt to the UK at either 137 percent of GDP or 251 percent of GDP, which would leave Scotland roughly where Greece is in terms of national debt as a starting point.”

The Bow Group chairman had previously told the publication that the cost to the Scottish economy of leaving the UK would be “too high”, and that the country could end up poorer than eastern European nations like Romania.

Read the full article here at the Daily Express

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