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JP Morgan reckons Scotland will separate from the UK before 2019

Heavyweight investment bank JP Morgan reckons Scotland will separate from the UK and introduce its own currency within three years.

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Scotland will hold a second referendum on leaving the UK, reckons Morgan Stanley

Heavyweight investment bank JP Morgan reckons Scotland will separate from the UK and introduce its own currency within three years.

The bank says it could split in a second UK referendum, which he reckons will be held  some time before the UK will leave the EU in 2019.

The referendum vote was a leave vote, and Morgan Stanley reckons the process of the UK leaving the bloc will be initiated by ba new PM later this year, ahead of two years of negotiations on , among other things, trade deals.

"Our base case is that Scotland will vote for independence and institute a new currency at that point (2019)," JP Morgan economist Malcolm Barr said in a note to clients on Wednesday.

Scottish First Minister Nicola Sturgeon is currently in meetings in Brussels seeking to secure Scotland's place in a future EU community.

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