Scotland votes for 'NO' kingdom stays united

Edinburgh: Scotland spurned independence in a historic referendum that threatened to rip the United Kingdom apart, sow financial turmoil and diminish Britain’s remaining global clout. A vote for the 307-year union is a relief for millions of Britons including Prime Minister David Cameron, whose job was on the line, as well as allies across the world who were horrified at the prospect of the UK’s separation.

Unionists cheered, kissed and drank wine and beer in Glasgow, Scotland’s biggest city where secessionists won, while nationalist leader Alex Salmond conceded defeat and hours later told reporters he would resign. Opponents of independence won 55 per cent of the vote while separatists won 45 per cent with all 3.6 million votes a record 85 percent turnout counted. But leaders from across the UK said the union must change if it is to endure.

“For me as leader my time is nearly over but for Scotland the campaign continues and the dream will never die,” Mr Salmond said. Mr Salmond said he would not accept the nomination as leader of the Scottish National Party at an annual conference in November and that he would then resign as Scottish first minister. The vote prevents 59-year-old Mr Salmond from winning his dream of an independent Scotland, a goal for which he has worked with a mix of shrewd calculation and nationalist passion for his entire adult life.

Mr Cameron said the question of Scottish independence had been settled for a generation.“There can be no disputes, no re-runs, we have heard the settled will of the Scottish people,” he said outside his official London residence in Downing Street.The campaign for independence had electrified this country of 5.3 million but also divided the passions of friends and families from the remote Scottish islands of the Atlantic to the tough city estates of Glasgow.

Sterling strengthened sharply against the dollar and the euro on the result. British bonds and shares rose while major British companies with Scottish exposure welcomed the decision.

Royal Bank of Scotland said it had scrapped plans to move its registered office to England.Earlier, speaking in front of an image of a giant Scottish flag, Mr Salmond laced his admission of defeat with a warning to British politicians in London that they must respect their last minute promise of more powers for Scotland.

Opinion polls showing a surge in Scottish separatist support in the two weeks leading up to the Sept. 18 vote prompted a rushed British pledge to grant more powers to Scotland, a step that has angered some English lawmakers.