The most important story in Scotland
And it's not Glasgow East.
Jeff from SNP Tactical Voting gets it:
RB Afraid, RB Very AfraidLess than a month ago I blogged about the worrying state of RBS' share price. I was worried about a share price of £2.30, especially when shares were trading at £7 only a year ago.
Well, in less than a month, that £2.30 is now down to a very, very troubling £1.70.
Last night the Royal closed at 167.70, down 7.06% for the day. HBOS was down 4.41%.
Scotland's economy is very dependent on financial services. And the uniquely centralised nature of the UK makes the situation even more precarious.
Jeff writes:
Royal Bank of China, coming to your high street soon. Mark my words....
I wouldn't be surprised at all, and such an outcome would be disastrous for Edinburgh and Scotland as a whole. Power, influence and the top jobs follow the headquarters.
But an RBS takeover isn't the worst prospect facing us right now. What should really worry us is the survival of the entire banking system itself. And it's not like we havnae been telt. Is it?
In conclusion, here's a movie from (near) Hollywood.
posted by David Farrer at 06:20
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