Financial group warns on Scottish independence

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Financial group warns on Scottish independence
By DANICA KIRKA
Associated Press
Feb 27, 8:10 AM EST

LONDON (AP) -- British financial group Standard Life said Thursday it is drawing contingency plans to move some of its operations out of Scotland in the event it votes for independence - a decision certain to stoke debate about the fate of business after the Sept. 18 ballot.

The independence referendum has raised a number of issues for companies, including what sort of currency would be used.

Britain's leadership has warned Scotland that if it votes later this year to leave the U.K., then the new country walks away from the pound. Treasury chief George Osborne delivered the hard-line position during a speech in Edinburgh this month, gambling on the idea that the majority of Scots will dismiss the romantic appeal of independence and focus on more tangible economic issues.

Being part of a pound union had been the centerpiece of the Scottish National Party's strategy to guarantee a secure, stable transition. They've dismissed Osborne's remarks as political maneuvering, dubbing it the "Sermon on the Pound."