Hacker News new | ask | show | jobs
by mikealeo 5551 days ago
Scottish banks were bailed out? I'm not sure if you think this is an American bank, or I just don't know enough about Scotland's economics.
2 comments

Scotland is part of the united kingdom. The royal bank of scotland is a UK bank and it was bailed out by the UK government.

The UK is a country comprised of four countries. Don't worry, the people that live here don't understand it either.

Great Britain is simply a geographical term applied to the actual archipelago itself.

The economic relationship between scotland and the rest of the country, particularly the government in london is a vexed question that is seen as being badly in need of a solution, but it has been pushed aside in the current economic situation.

It's basically down to the fact that while scotland has partial legislative autonomy, it is unable to raise its own tax revenues independently, but it is much deeper and more complicated than this. See https://secure.wikimedia.org/wikipedia/en/wiki/West_Lothian_...

While that's all true, RBS isn't the bank in question.

Also, both RBS and Lloyds Banking Group (who bought/'merged with' HBOS, which was the result of the merger of Halifax and Bank of Scotland, and it's Halifax's online banking the story is about) do have special Scottish-only rights, like printing banknotes.

Yes, and the bank doing the website renovations (HBOS) is one of the ones that was bailed out.