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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SCOTLAND
Scottish First Minister Nicola Sturgeon is delivering a statement to the Scottish Parliament regarding her gov'ts plans to hold a second independence referendum in Scotland, seeking to separate the country from the United Kingdom.
- Livestream: https://www.scottishparliament.tv/meeting/meeting-...
- Sturgeon's plans to try to push through a second independence referendum, even without a Section 30 order (the legal permission required to hold a referendum granted by the UK gov't), is likely to set the Scottish gov't on a collision course with UK PM Boris Johnson and his gov't.
- The last independence referendum in 2014 saw a 55%-45% win for the pro-union side. Recent opinion polling has shown the pro-independence gaining something of an upper hand, but still not a hugely conclusive signal that the population is in favour of leaving the UK.
- From Sturgeon's pre-released remarks: “Westminster rule over Scotland cannot be based on anything other than a consented, voluntary partnership...It is time to give people the democratic choice they have voted for.”
- The two pro-independence parties, Sturgeon's populist Scottish National Party (SNP) and environmentalist Scottish Greens hold a majority in Holyrood. This means the Scottish gov't is likely to be able to push through any legislation it sees fit on the issue of independence. However, without UK gov't approval any push towards a referendum risks being deemed an illegal or 'wildcat' referendum.
Chart 1. Scottish Parliament, Seats (Chg in Seats in 2021 Election)
Source: Scottish Parliament, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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