In 1698 Scotland was an independent country that sought to colonize Panama. The effort was a massive failure, costing Scotland about one quarter to half of its annual revenue. In financial ruin, Scotland reunified with England to reduce its economic burden.

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What’s the Difference Between Great Britain and the United Kingdom?

The names Great Britain and United Kingdom are often used interchangeably. However, they are not actually synonymous. The reason for the two names, and the difference between them, has to do with the expansive history of the British Isles. The British Isles are a group of islands off the