One of the key argument for pro-European Union campaigners and Pound doom Sayers have been possibility of a Scottish exit from United Kingdom, if Britain votes to leave the union. Well there exists a strong possibility that Nicola Sturgeon, chief of Scottish National Party, which grabbed almost all the seats in Scotland in last federal election, indicated that another referendum is likely over Scottish independence if Britain chooses to leave European Union.

Strong possibility doesn’t mean that likely to the most, especially when economic ties are to be considered.

• If post Brexit, Scotland chooses to exit from United Kingdom, it doesn’t mean there would be red carpet awaiting the Scots in the union. There would be number of rules and regulations, Scotland will have to bind itself with, which means the freedom could be lesser in EU than UK.
• That leaves the option that Scotland might leave UK but do not join EU, that would be political backlash since the new referendum will be basing on Brexit.
• Moreover Independent Scotland will have to negotiate its trade rules with both EU and UK in such a case. These two areas account for 80% of Scottish exports. UK alone accounts for 60% of Scottish exports. According to 2014 data, non-oil exports from Scotland to EU was £11.6 billion and for UK it is €48.5 billion.
• Moreover, if Scots do not join Euro, it may have to float Scottish Pound, which would leave the nation in jeopardy in short term, not suitable to enter EU.

Still history has shown, call for independence not always follow the best of economics, so to everyone’s disappointment, uncertainty is here to stay, at least till July.