Now that Scotland is going through the motions, I figured I'd stir the pot, economically.
The question in 1995 was whether Quebec should secede from the Canadian Confederation. Passions were high; one secessionist leader unwisely argued that a "Yes" win would lock voters into secession like "lobsters thrown into boiling water." Fueling the drum-beat were federalist of impending economic, political, and currency chaos. At the end, the vote was incredibly close: 49.4 percent voting for secession, 50.6 percent voting no.
As Scotland goes to the polls to decide on its own separation from the United Kingdom, the tone of the campaign is, again, high on passion and, again, secessionists are inching toward the magical 50 percent line. But don't uncork the single malt quite yet: as of today (September 2, 2014), bookies in London still put the odds at 4-to-1 against the non-binding referendum. But it remains a real possibility. [Check the latest odds here.]