Sunday, 23 February 2014

Edinburgh - a potential Financial Capital City

The great and good of the financial world have been threatening financial Armageddon on the Scots if they vote to leave the UK but I wonder if that is right.  Savills kindly sent me a copy of their recent catalogue of properties for sale and I noticed;

'An elegant 5 bedroom townhouse on a charming listed crescent in Edinburgh's New Town conservation area. It has wonderful proportions, a superb roof terrace with outstanding views and delightful central gardens.'   Yours for £795,000 - yes only £795,000 in London the equivalent in the West End would set you back in excess of £10 million!

Not only can you buy a lovely family house for almost an affordable amount  but in Edinburgh there are virtually no Russians, no Arabs, no Chinese'investors' and - most important of all -perhaps - no French. Wow what a city? There is also a well educated and financially astute and able population. Add these factors together sprinkle on top the plethora of world class golf courses and grouse moors within easy driving distance, not to mention art galleries and oodles of culture and you have a potential cocktail which ought to prove almost too tempting for any financial company. The only blot on the horizon -of course -is Mr Salmond and his continual desire to show his economic illiteracy by opening his mouth and saying stupid things.  Remember though - the first Prime minister of Singapore -Lee Quan Yew - was a socialist and then - strangely- metamorphosed into the most capitalist of all post colonial leaders and built Singapore up into the financial power house it is today. Could the same happen to Mr Salmond if he ever gains the independent Scotland he craves?     

2 comments:

  1. Two great links below to stories that relate to Francis post. Well worth a read.

    http://www.moneymorning.com.au/20131106/why-small-nation-states-are-a-recipe-for-growth.html

    http://www.dailyreckoning.com.au/nations-of-the-world-divide/2014/02/24/

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  2. Most important of all - no French? Surely you mean, no Germans. :)

    Seriously, though, another great post from Fulford, the man who can be relied upon to produce an alternative point of view that I don't find easily anywhere else. Most journalists are too young to remember Lee Quan Yew.

    Does this remind anyone of the Long Johns' sketch about the ERM? "So you're saying... it's only because John Major betrayed the country [by leaving the ERM]... that we're as well off... as we are today?"

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