German investors are feeling shakier than they have in months, thanks to Russian sanctions, a weak economy, and now the specter of Scottish independence:
The closely watched confidence index calculated by the ZEW economic institute fell by 1.7 points to 6.9 points in September, although the fall was smaller than the consensus forecast of a drop to 5.
ZEW President Professor Clemens Fuest said: “The economic climate is still characterized by great uncertainty. The risk of a sanction spiral with Russia continues to exist and economic activity in the Eurozone remains disappointing.
“Last but not least, it is difficult to assess potential consequences of Scottish independence.”
The worst case scenario is if Scotland does vote to leave, then 20 years from now Europe has a Venezuela-on-the-North-Sea, and Rump UK rebuilds Hadrian’s Wall.
I’m exaggerating about Venezuela and kidding about the wall — but reality sometimes has a way of outdoing my little jokes.