Re: Scots to Discuss Icelandic Constitutional Council by Lesley Riddoch PDF Print E-mail
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Written by Iceland Review   
Thursday, 09 February 2012 12:42

I have a lot of time for Lesley and the Nordic Horizons group is doing good work. 
But, the statement re the banking collapse "The fear was—would Scotland have gone bankrupt without England?" is a little one sided and needs context - i.e. it is just British Unionist propaganda.  The banking collapse has been exploited and misrepresented by the UK State to damage Scotland's ongoing struggle to regain its Independence.
If we recall the British State was happy to apply 'Anti-terror' laws to Iceland to force obedience, irrespective of recognized conventions on international banking (see Professor Hughes Hallet's comments below) or the damage that could cause the country. 
Similarly, but more so, because Scotland is a valuable, exploitable, resource for the UK, the British State will put every obstacle possible in the way of Scotland regaining its Independence.  I refer any of your readers who are interested (unlikely!) to the pages of "The Scotsman" hah! or Daily Telegraph (search Scotland News) newspaper for the constant diet of negative propaganda, smears and downright lies that we in Scotland are currently subject to.
Google results for the main Scottish political parties "accused": "Scottish Labour accused of" (3 results), "Scottish Lib Dems accused of" (1 result), "Scots Tories accused of" (2 results)",  '"SNP accused of'"  (90,700 results).
Or the critique of the 'impartial' BBC, which you can find here.
Our British Unionist politicians regularly refer to Iceland as being part of the 'Arc of Insolvency' as part of their propaganda war against Scotland. This is intended to scare us into remaining in Union with England.  Strangely, I am not aware that Iceland has any plans to become a part of Denmark again because of the actions of some careless individuals in the banking 'industry'.  Maybe you are and I haven't noticed?
The Full Fact site based in England gives GDP figures for 'bankrupt' Iceland (GDP per head $36,718) and Ireland ($39,750) compared to the 'World Power' UK!  ($34,511)
Scotland's 'liability' to deal with the banks bailout of was discussed on the BBC Scotland programme Newsweek Scotland). I would suggest that this is relevant to your own position on the banks.
"by international convention, when banks which operate in more than one country get into these sorts of conditions, the bailout is shared in proportion to the area of activities of those banks, and therefore it’s shared between several countries.  In the case of the RBS, I’m not sure of the exact numbers, but roughly speaking 90% of its operations are in England and 10% are in Scotland, the result being, by that convention, therefore, that the rest of the UK would have to carry 90% of the liabilities of the RBS and Scotland 10%.  And the precedent for this, if you want to go into the details, are the Fortis Bank and the Dexia Bank, which are two banks which were shared between France, Belgium and the Netherlands, at the same time were bailed out in proportion by France, Belgium and the Netherlands"
Professer Andrew Hughes Hallet on Newsweek

You can find a transcript of this interview here.

Hence the people of Iceland were perfectly correct to tell the UK to get lost.  More power to you!
Derick Tulloch, Scotland 

Last Updated on Thursday, 09 February 2012 21:16

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