The Royal Bank of Scotland (RBS) might be forced to move its headquarters to London if the Scotland becomes independent and choses to join the European Union, warned Mark Carney, the governor of the Bank of England.

Mr. Carney said that EU membership would mean that the Scotland will be forced to join the euro indicating that the any currency union will only be a temporary solution. The Westminster has already ruled out an idea proposed by Alex Salmond. He also said that an independent Scotland would need currency reserves that are much larger than its GDP in order to face global market requirements.

The European laws require major banks to be based where their customers are located. This means that the RBS and others might be forced to move to the remaining UK if Scotland becomes independent and joins the EU. The bank warned that under the European laws, it will be forced to move England as most of its customers are located there.

Ross McEwan, the chief executive of Royal Bank of Scotland has said that the financial giant will be able to adapt itself to the changes if votes chose to make Scotland an independent nation during this year's referendum. The people of Scotland will be voting to determine if there would want to create another country by carving out the Scottish territory from the UK.