• Royal Bank of Scotland confirms it will move to London if Yes wins
    19 replies, posted
[url]http://www.bbc.co.uk/news/business-29151798[/url] [quote]Royal Bank of Scotland has confirmed it has made contingency plans to move its headquarters from Scotland to London if there is a Yes vote in the referendum. A Treasury source told the BBC that it had discussed the plans with RBS. Lloyds Banking Group also said it could shift some business from Scotland, after customers contacted it for clarification on their finances. However, the banking group said it was just a legal procedure and "there would be no immediate changes or issues".[/quote]
They would be idiots [b]not[/b] to have a contingency plan in case shit went down. It doesn't mean anything.
[QUOTE=Flapadar;45945269]They would be idiots [B]not[/B] to have a contingency plan in case shit went down. It doesn't mean anything.[/QUOTE] I don't know, to me it means that they've doubts about an independent Scotland's ability to keep an economy bigger that your average ASDA running.
[QUOTE=Sgt-NiallR;45945369]I don't know, to me it means that they've doubts about an independent Scotland's ability to keep an economy bigger that your average ASDA running.[/QUOTE] It's all about the cost of preparing a contingency plan vs the cost of everything going wrong without a contingency plan. Cost vs risk. Contingency plans are cheap and will save a lot of time and money [b]if[/b] anything goes wrong. It's simple business, I'd expect nothing less from a large company. It does not mean they have strong doubts about our economy, just that the cost of a contingency is worth it.
[quote]However, the banking group said it was just a legal procedure and "there would be no immediate changes or issues".[/quote] [quote]-contingency plans-[/quote] dat' headline
it's because of eu laws regarding where you do your most trade (in banking) being where you're headquartered
[QUOTE=hypno-toad;45945413]dat' headline[/QUOTE] That comment's from Lloyds, not RBS
[QUOTE=Flapadar;45945269]They would be idiots [b]not[/b] to have a contingency plan in case shit went down. It doesn't mean anything.[/QUOTE] Well, I imagine it does to people who are employed by the bank.
[QUOTE=David29;45945565]Well, I imagine it does to people who are employed by the bank.[/QUOTE] Do you think they would be happier if their employer didn't plan on how to survive a feasible but unlikely risk? Plus, it's not like they'll shut their offices in Edinburgh. It's more likely that - if necessary - they would have their [b]legal[/b] headquarters in London. Quite a big difference between legal headquarters and actual headquarters.
Even Scotlands money wants to move away from a independent nation.
wat if independence is an elaborate ruse to bring all of scotlands business and money to england
naff off lad, scoTlUnd will become derelict if ye turun independent.
They've clarified the 'contingency plan' thing btw [quote]Royal Bank of Scotland has confirmed it will relocate its registered headquarters to London if Scotland votes for independence next week.[/quote] Bank's statement: [quote]In response to press speculation in relation to re-domicile, The Royal Bank of Scotland Group plc ("RBS") confirms that, as set out in the risk disclosures in RBS’s Annual Report, there are a number of material uncertainties arising from the Scottish referendum vote which could have a bearing on the Bank’s credit ratings, and the fiscal, monetary, legal and regulatory landscape to which it is subject. For this reason, RBS has undertaken contingency planning for the possible business implications of a ‘Yes’ vote. RBS believes that this is the responsible and prudent thing to do and something that its customers, staff and shareholders would expect it to do. As part of such contingency planning, RBS believes that it would be necessary to re-domicile the Bank’s holding company and its primary rated operating entity (The Royal Bank of Scotland plc) to England. In the event of a 'Yes' vote, the decision to re-domicile should have no impact on everyday banking services used by our customers throughout the British Isles. However, RBS believes that it would be the most effective way to provide clarity to all our stakeholders and mitigate the risks previously identified in our Annual Report. The vote on independence is a matter for the Scottish people. Scotland has been RBS's home since 1727. RBS intends to retain a significant level of its operations and employment in Scotland to support its customers there and the activities of the whole Bank.[/quote]
[QUOTE=Vasili;45945706]Even Scotlands money wants to move away from a independent nation.[/QUOTE] RBS is English owned, I believe, so it makes sense. The name is misleading, same as with Bank of Scotland, who is actually owned by Halifax, so is also English.
[QUOTE=Craigewan;45949033]RBS is English owned, I believe, so it makes sense. [/QUOTE] Isn't owned by the UKFI, which is owned by the UK Government? [editline]11th September 2014[/editline] isn't it owned i mean
Regardless of anything else, the news caused the GBP/USD exchange rate to go up from 1.60 to 1.62 almost immediately.
Upd8 [img]http://imgkk.com/i/p4ki.png[/img]
Okay, go. It's fine. You've already said you'll keep your customers and jobs up here. Just means that England, Wales and N. Ireland will have to bail you out next time, not Scotland... [editline]11th September 2014[/editline] And we'll STILL get the corporation tax since that's based on where you are economically active. This is not a bad thing for the Yes campaign at all.
[QUOTE=Antlerp;45946142]wat if independence is an elaborate ruse to bring all of scotlands business and money to england[/QUOTE] [media]http://www.youtube.com/watch?v=ZuyVlWbcfgQ[/media] reverse psychology
[media]http://www.youtube.com/watch?v=rHmLb-RIbrM[/media]
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