REPORT: Royal Bank Of Scotland Would Move Its HQ To London If Scotland Votes 'Yes' On Independence

rbs royal bank scotland

REUTERS/David Moir

Headlines from Reuters, citing a U.K. Treasury source, said on Wednesday that Royal Bank of Scotland would move its headquarters from Edinburgh, Scotland to London in he case of a "Yes" vote on Scottish independence.

A U.K. Treasury spokesman also told Reuters that the government is not making contingency plans for a "Yes" vote.

The vote is scheduled for September 18.Advertisement

U.K. prime minster David Cameron this week traveled to Scotland in an effort to convince Scottish voters not to vote to exit the U.K., writing in The Daily Mail ahead of his trip that, "The United Kingdom is a precious and special country. That is what is at stake. So let no one in Scotland be in any doubt: we desperately want you to stay; we do not want this family of nations to be ripped apart."

The headlines from Reuters follow an essay by George Soros published Wednesday which said that, "This is the worst possible time for Britain to consider leaving the EU - or for Scotland to break with Britain."

Soros' argument is centered on the necessity for the Eurozone to stay together, writing that policy differences between both Scotland the U.K. and the U.K. and the Eurozone can be mediated.
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Earlier on Wednesday, BI's Tomas Hirst noted that the British pound was rallying after the latest poll from Survation showed that "No" votes on independence were leading "Yes" votes by a 53-47 margin. And analysts at Deutsche Bank also said that were Scotland to vote in favor of independence, it would fall into a deep recession.

Over the weekend, a vote in favor of Scottish independence seemed like a real possibility, but now as we move closer to the vote, reality might be setting in.