Banking

How would the SNP have delat with the banking crisis? The FT's Jim Pickard points out that "This is a valid question. The rescue of the Scottish banks has cost British taxpayers an estimated £2,000 per household. If Scotland was independent, the figure could have been closer to £13,000. How would it have coped?“ Mike Russell, the minister for the Constitution, External Affairs and Culture, replied: "It would have been slightly different, it would have probably been done in co-operation with other countries…we would have done it in partnership with everyone involved.” Now perhaps the ECB might have helped and perhaps the Nationalists could have rustled up some cash from elsewhere but this seems hopeful in the extreme.

From the response to the last post on this subject I get the impression that people around here don't much care if the government can did itself out or not. Some readers of The Bright Stuff have asked how I can justify wanting Labour to win the next election? But more of that later. First I want to examine the horror of the situation a little. I have finally read the Independent on Sunday's interview with HBOS whistleblower Paul Moore. Jaw-dropping or what! It's always wrong to leave the Sindy till last in the weekend reading pile because so often it punches above its weight. It would be one of the saddest victims of the recession if it is forced to close.