JP Morgan predicts Scotland will be independent by 2019

Written by Liam Kirkaldy on 29 June 2016 in News

US investment bank produces paper analysing the consequences of the vote to leave the EU

Flags - Credit: PA

JP Morgan says it expects Scotland to become an independent country with a new currency by 2019.

The US investment bank has produced paper analysing the consequences of the vote to leave the EU.

The paper, produced by economist Malcolm Barr, predicts Scotland will vote for independence before the UK completes the process required to exit the EU.


Nicola Sturgeon in Brussels to discuss options for Scotland

Nicola Sturgeon responds to the Brexit vote - read her speech in full

It warns there are “myriad uncertainties in how the UK’s relationship with the EU will evolve”, but argues the paper provides a “case for how we think things will play out from here.”

But in a section on Scotland it says: "Intersecting the UK’s EU exit process is likely to be pressure to hold a new referendum on Scottish independence, which we expect will ultimately produce a vote shortly before the UK leaves the EU in 2019.

“Our base case is that Scotland will vote for independence and institute a new currency at that point.”

Nicola Sturgeon has already instructed the Scottish Government to prepare legislation for a second independence referendum, with the First Minister warning the vote for Brexit makes the vote “highly likely”.


Related Articles

It’s now time for action on homelessness
21 June 2018

Figures showing the first rise in homelessness for almost a decade should start alarm bells ringing in St Andrew's House

Theresa May survives Brexit showdown as sick MPs attend to vote
21 June 2018

EU Withdrawal bill passed by MPs after Dominic Grieve and other Tory rebels accept compromise over final say

Sketch: MSPs debate whether or not islands exist
21 June 2018

Parliamentary sketch: A debate on the Islands Bill brings out the best in the chamber

Related Sponsored Articles

Associate feature: 5 ways IoT is transforming the public sector
5 February 2018

Vodafone explores some of the ways IoT is significantly improving public sector service delivery

Share this page