yes, ultimately the banks didn't hold guns to people's heads and force them to borrow 110% mortgages to buy overpriced buy to lets off plan in Leeds and so on. They did that to themselves.
Not that the banks were blameless of course - some were particularly stupid to be so overstretched when the music stopped. The point is they were just cogs in the machine.
the point is that there were not just cogs. The FS industry lobbied to avoid regulation of derivatives such as CDOs which played a big part in the Global Financial crisis (you know - the one that did not start in Leeds). There was lobbying against Glass-steagall, there is constant lobby against any
The Financial industry created the conditions to break the machine, and then went cap in hand to governments to make us pay for their mistakes, when that machine was well and truly broken.
No, I'm talking about european member states lacking the ability to use free floating exchange rat to alleviate economic strains (i.e. everyone germany trades with) and also smaller countries realising that owing debt in a currency you don't control (greece, ireland, portugal, cyprus, etc ) can leave you in serious trouble. The Euro is a valid idea that is very badly implemented - largely because nobody is ready to go the whole hog and surrender fiscal and political control rather than just monetary control.
The euro going up or down is an irrelevance. Its supposed to move. the point is that the terms of trade between european states are rigidly (and inappropriately) fixed and that leads to major imbalances within europe, such as a free ride for german exporters and the expense of southern europe.
the euro is not seen through to its logical conclusion (full union). That's why it lurches from crisis to crisis. Sterling and the US dollar are not perfect but don't threaten yo unravel like thd euro does.
That's why it lurches from crisis to crisis - what crisis? - you use the word but dont back it up. The recent soveraign debt crisis in the EU arose out of the Global Financial Crisis (which did not start out with high LTV in Leeds). What crisis are you blaming on the EU?
on the Banks moving out of scotland - much more significant than the cursory'moving brass plates' explanation the SNP patronise the scottish people with. As RBS showed, a bank is nothing unless it can lean on a credible central bank in times of extreme stress. The banks moving are preemptively making a point of saying they will be supported by the bank of england, and not whatever house of cards flim-flammery the SNP would cobble together. Quite right too.
It would make no sense that an independent Scotland would want to stand behind institutions which are too large for it.That does not show that scotland is not viable as an entity. It would be able to regulate Scottish banking operations. It makes no sense for Scotland to regulate an entity where the bulk of operations are south of the border. they should be regulated from London. that is a good result of an independent Scotland, not a vote of no confidence. Under your 'logic' there there be no small countries at all - because they cannot stand behind large complex institutions.