We’re on the eve of the big vote. Scotland awaits word on whether it will once again be an independent nation. It’s an exciting, historic occurrence that we are witnessing from across the pond.
So, naturally, my main concern this: is what does potential Scottish independence mean for me, an American citizen in Arizona? This has the potential to deeply affect one of my very favorite things.
What does Scottish independence mean for scotch?
I’m not the only one wondering about this, either.
Scotch is primarily an export. The market for scotch depends on pretentious scotch drinkers like myself here in America. Will an independent Scotland adversely affect the scotch market? No one can predict how strong Scotland’s currency would be if it pulls away from the United Kingdom. I suppose it could go to the euro. Admittedly, I’m not an international economist but my understanding is that the euro isn’t as stable as the pound is.
Would prices on scotch go up? Would they go down? Either one would be bad for someone. Higher prices would be bad for me, since I already can’t afford to drink my favorite single malt except on special occasions.
But lower prices would be bad for the scotch market in general if they weaken the value of the product and force some of the best distilleries to cut back or close up shop. That seems less likely, given that the demand for scotch is only increasing. But it’s always possible, I suppose.
Most likely, either scenario would happen in the long-term. I doubt my favorite bottle of Highland Park will suddenly quadruple in cost tomorrow. But who knows?
In the meantime, all we scotch drinkers can do is hold our Gleincarn whiskey glasses closely while we wait for the results of the vote.