Just a day ago, a referendum took place in the UK that could have changed it forever – Scotland nearly became it’s own country. The main argument of the impassioned Alex Salmond, leader of the Scottish National Party (SNP), argued that Scotland could prosper on its own with its rich oil reserves, more on it can be read here.
Despite these attractive numbers, if Scotland independence did occur, I believe there will be several detrimental side effects.
For starters, the SNP seems to propagate that independence will bring an invigorating effect on the economy. While it is true that oil can be a major industry for Scotland, there are other more threatening issues that can overpower the effect.
For example, if the new Scotland decides to keep using the pounds system of currency, then monetary policies from England and Scotland will clash with one another. In addition, where will corporations decide to base: in England or in the new Scotland? Will there be enough resources, besides oil, to keep the new country self-sustaining? Most importantly, Scotland would need to devote significant resources to 
strengthen its army.
In my opinion, a better approach would be to seek more independent governing while remaining as a part of the union.