I love Scotland.  It is one of the most beautiful countries on Earth as far as I am concerned.  The time I spent at the University of Aberdeen in the North East of Scotland is among the most memorable times of my life thus far.

Later this year, Scots have a tough choice to make.  I think they have a marvellous opportunity before them.  When I think of the wealthiest (in terms of per capita wealth) nations on earth, they fall into one of three categories -

1. They have oil.  Think Qatar.

2. They have a small population. Think Switzerland

3. They have a great regulatory framework.  Think Singapore.

Scotland potentially has all three.  So maybe they should ditch the Pound Sterling and go it alone?  All they need is to establish a great regulatory framework like Singapore.

But then, as I think more deeply, I remember other countries which have the elements for being great but have failed by any measure.  Think of small, oil-rich Trinidad and Tobago.  A potential wonder cursed by incompetent leaders.
Us Expat Singapore

So would Scotland be a Singapore or a Trinidad?  Let's see how it goes...