A Short Note on an Independent Scotland in Europe – The Regulatory State
7 Pages Posted: 1 Feb 2013
Date Written: January 31, 2013
If the plebiscite in Scotland, due in autumn 2014, results in its independence from the United Kingdom, it is expected to become a member state of the European Union (EU). One consequence of this is that Scotland would be required, by the acquis communitaire, to create a considerable number of regulatory institutions and to participate in European regulatory networks (ERNs). These would be required to be fully operational by the day of independence and the day of accession to the EU treaties, whichever is the sooner. Even without EU membership, most of these bodies would be unavoidable, though with greater freedom in their design and operation. Markets subject to regulation would be expected to suffer some uncertainty, but efforts would presumably be made to minimise these.
Keywords: European Union, United Kingdom, Scotland, Regulation, Regulatory State, Agency
JEL Classification: L90, L96, L97, L50, K20, K21, K23, L40, L80
Suggested Citation: Suggested Citation