Voters living in Scotland, the vast majority of them Scottish, have decided for themselves and on behalf of Scottish nationals across the world to remain as part of a greater union.
The electorate turned out in huge numbers to vote, with 55% ticking the box to stay in the union.
Sterling has hit a 2 year high against the euro with a pound buying €1.28, and has risen against the US dollar in a frank reflection of the relief felt in many markets and governments.
The historic referendum threatened to divide the United Kingdom, create financial uncertainty and diminish Scotland’s place at the international table.
British Prime Minister David Cameron will keep his job, for the time being anyway, and the vote for a union that has stood firm for over 300 years is a relief for millions of Scottish national living overseas as well her Commonwealth nations and partners most of which foresaw chaos with a devolved union with each part losing power and credibility.
The unionists won 55% of the vote with Scottish nationalist leader Alex Salmond conceding defeat in Edinburgh, which voted to stay..
"Scotland has by a majority decided not, at this stage, to become an independent country. I accept that verdict of the people and I call on all of Scotland to follow suit in accepting the democratic verdict of the people of Scotland," said Salmond in a speech that marked the end of his hopes of leading an independent country.
As for the political promises made in Westminster for more powers for Scotland, Salmond warned that parliament must deliver, "Scotland will expect these to be honoured in rapid course."
As sterling strengthened, share prices rose on the opening of the market this morning as a mark of the the Square Mile's relief at the result.
The campaign for independence split Scotland down the middle and it is feared that there will be both social and political repercussions from a campaign that saw over 80% of the 5.3 million registered voters turn up to win by such a narrow margin. Glasgow voted for an independent nation and the capital Edinburgh voted to stay. This division will only deepen the historic animosity between the two great cities in the central belt and commentators predict a firey time for Scottish politics in the coming months.
Many MPs from south of the border still may oppose Cameron as he starts to add up the cost of his last minute promises of more power and control to Scotland.
‘Better Together’ campaign leader Alistair Darling said, “We have chosen unity over division, and positive change rather than needless separation.”
The vote wakes Salmond’s from his long dream of an independent Scotland. He has achieved his lifetime’s goal of a vote on a split from the union, but with the 'stay' vote winning the day many predict that he now may not retain the passion to continue in front line politics.
The skirmishes, battles and now the war is over with the majority heeding unionist warnings of financial and economic turmoil for decades to come and the real worry of a financially weaker Scotland at the end.
The prospect of a fractured UK, the world's sixth-largest economy, failed to impress other governments and overseas bodies such as the United Nations Security Council and the USA with Washington making clear that it preferred an intact partner.
