Scots opt for pragmatism, remain in the UK
Issues of sovereignty and independence, freedom and identity, are almost always wrought with emotion, passion and pride. But in voting to stay within the United Kingdom, the people of Scotland have adopted a practical and level-headed approach to the idea of statehood. They have recognised the many advantages that their 307-year old union with Britain affords, and decided not to forego those definite benefits, at least not at this point in time, for the rather romanticised notion of Scottish independence. There is consensus between economists and political scientists alike that, under the present circumstances, an independent Scotland would have been a fragile entity. Separation from the UK would have led to an immediate flight of capital and the loss of currency. Britain wouldn't have agreed to share the Pound and the Bank of England would refuse to be the lender of last resort to the new country. Trade with Britain, a large element of the integrated Scottish economy, would have suffered. And the burden of British debt, which it would have to bear independently, upon separation, would have crushed the fledgling economy. Those in favour of independence had argued that the economy could hold just fine, as Scotland could continue doing business with the European Union. But for that, the new country would first have to be re-admitted to the EU. This would have been easier said than done (think Kosovo), as not just the UK but other EU member states like Spain and France, which are contending with their own separatist claims, would have blocked Scottish membership. Moreover, it seems like Scottish leaders pushing for a new nation, including First Minister Alex Salmond, failed to convince the people that they had a clear plan on how to deliver a brighter and better future.
However, this is not to say that Thursday's referendum was a vote for status quo. On the contrary, it has set the ball rolling for the some of the biggest constitutional changes in the history of the UK which will affect not just Scotland but also Wales, Northern Ireland and even England. Prior to the vote, Westminster had promised that if Scotland decided to stay within the UK, it would give more powers to Holyrood, the seat of the Scottish Government in Edinburgh. And immediately after the result of the vote was announced early Friday, British Prime Minister David Cameron committed his Government to a devolution plan that will allow the Scots to decide on matters such as income tax, state spending, and welfare schemes. There is general agreement on these issues but the devil lies in the detail, with each political party having its own version of what the devolution plan should look like. Thankfully, there is a time-frame in place — and with some amount of consensus-building, the draft of a new legislation should be ready by November, placed before Parliament by January and possibly approved by May 2015 when a new administration takes charge in london. But, as the Scots get more power, the Governments of Wales and Northern Ireland will also look to re-shape their arrangements with london. Similarly, the English population has raised an old question: Why should Scottish MPs have a say in their affairs when British MPs don't get to vote on Scottish laws on the same subjectsIJ