International Economic and Market Overview August 2014
The Kingdom of Great Britain resulted from the union of the kingdoms of England (comprising modern-day England and Wales) and Scotland in 1707. Subsequently, in 1801, the Kingdom of Great Britain united with the neighbouring Kingdom of Ireland forming the United Kingdom of Great Britain and Ireland. When five-sixths of Ireland seceded from the United Kingdom in 1922, the state was renamed the United Kingdom of Great Britain and Northern Ireland. The ‘Union Jack’, one of the most recognizable and commercialized flags in the world, is a combination of the flags of England, Scotland and Ireland (the Welsh Dragon didn’t make the cut). What recently seemed like a long-shot is now looking increasingly likely: Scotland, and its 5.3 million inhabitants, may vote for independence in a referendum on September 18th, undoing over 300 years of peaceful habitation with its former foes. The broad impact of such a move is largely unknown as no definitive scenario for separation has yet been issued. 08_2014_CFAL_International_Economic_and_Market_Overview_revised Click here for full International Market Overview

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