The same is true of Scottish independence. I have absolutely no doubt that the cost of disentangling Scotland from the Union will be more expensive than the Nationalists estimate. This is not entirely irrelevant given their disingenuous protestations about public spending cuts but fundamentally it is not at the core of the issue. No, it doesn't matter what it costs; even if it can be done cheaply, setting up the infrastructure of an independent Scotland is for us not worth a red cent because we do not believe it is a very good idea.
I wish people had read to the end of the FT editorial that was quoted by both sides in this particular indy-spat. [I'll quote from the paper copy rather than providing a direct link to the piece, if you don't mind.]
"These sterile exchanges may fill column inches with accusations and counter accusations. But they must not decide the outcome. More is at stake this September than hypothetical arguments about pounds, shillings and pence. In the heat of the battle, Britain's politicians should not forget the deeper ties of history and shared political experience that link us."That it is the Financial Times exhorting us to be less narrowly economistic should give more people pause. As it is, the cost of independence can be measured more easily in the quantum growth in bullshit we've witnessed recently, rather than in pounds sterling.