The rise of the Scottish Nationalists might not be so good for the GBP ...

The Scots may miss being in the comfort zone king makers but the pro independence stance of the Scottish Nationalist Party may harm the unity of the United Kingdom in the medium term. SNP has emerged powerful.

Thus the British dictum of divide and rule may be returning home to harm the interests of British assets. The Scots may have as much in common with Europe as the British and may outpace England's growth rate given their known entrepreneurial abilities and natural resources. Glasgow may well be the centre to watch.

Even if there is 'unity in diversity', the British mosaic is tearing off. Shakespeare cannot hold together when financial backwardness is perceived by individual Scots.

"He's poor, and that's revenge enough.'(Shakespeare) 

Timon of Athens...

So it may mean a weakening of the UK fabric and there may be subtle encouragement from quarters which may like a weaker UK.

Does the bell toll for London as a financial centre?

Without risk or responsibility

Italy will pressurize Euro zone

and United Kingdom too. One could expect euro and pound to recede. French and other European bonds could also be under pressure. As ECB is still in its 'masterly inactivity ' , the road to USA will be an express motorway. 

London losing steam as a financial centre?

For decades, London, with its time zone positioning had a natural advantage as the World's largest volume driven financial centre. New York and Tokyo followed tamely for years. Thatcher's big bang helped re-inforce the London Lead. So much so that London became a centre for Islamic Finance too!

With the rise of Asia and the innovativeness of the Americans and the tottering of Europe, things have changed. The Chinese have post Kissinger days, been more at home in USA  than than in imperial England. Chinese students go by hordes to USA. The  rich Arabs have diversified to continental Europe  from France to Germany to Spain. London's key banks have also been affected by recession woes and LIBOR  fixing scandals and even probable legal violations (in USA) . The Pound is no more an alternative currency, forget a safe haven. Cable (GBP/Dollar) is virtually history.

With the growth of Dubai, Arab funds might see a return nearer home;  with Singapore's proximity to China ; with ECB  in Frankfurt, with the colonies no more to fund regal splendour; with its universities badly behind in revenues and perhaps research, with Scottish threats, imperious London's real estate and real finances may  soon be under pressure.