UK says Scotland's banking sector will face huge risk if it becomes independent
2013-05-20 12:35:44
The UK Treasury said that Scotland's banking sector will be too big as compared to other sectors in the nation's economy if it become independent.
Scotland will conduct a referendum for independence in September 2014. According to an analysis report released by the UK government, the nation's taxpayers will face a huge risk because of the vulnerability of its banking sector once the outbreak of bank crisis occurs again .
The assets of banking sector in Scotland is reportedly estimated to worth over 1,250% of GDP, much higher than that of Iceland and Cyprus.