Scotland Independent

crackerjack

Well-known member
Anyway, although I don't want Scotland to go indie, there are good reasons why people think otherwise – you've advanced some yourself on here – and I've been surprised by how many of the Scots I know (mostly ex-pats) support Yes. But none of them are in that OP.
 

Mr. Tea

Shub-Niggurath, Please
If I lived in Scotland I'd want to have as little to do with the shower of cunts currently running Westminster as possible.
 

droid

Beast of Burden
Its a simple enough question. Is life in the UK going to get better in the foreseeable future, politically, socially and economically?

I think we all know what the trend is here and where things are headed. Scotland has a chance to get off the bus and take their chances towards an unknown, and almost certainly brighter destination.
 

trza

Well-known member
I don't read the UK press but couldn't any central bank just buy a bunch of british pounds and print up one note scottish pounds on a one-for-one basis. Several small countries do the same with the US dollar. Unless the central bank in the UK seriously tried to keep any scottish bank from buying reserves of pound sterling, when there are billions sitting int he reserves of other country's banks. Seems like an odd issue.
 

Mr. Tea

Shub-Niggurath, Please
Is there an argument - that can be understood by the economics layman - why the SNP wants Scotland to remain in currency union with England, when that would seem - to this layman - to be a fairly serious concession of independence? Is it just to help keep it easy to trade across the border?
 

crackerjack

Well-known member
Is it just to help keep it easy to trade across the border?

No. Or at least, not mainly. Currency strength is a good indicator of economic strength. And if investors think your economy is weak and your currency tumbles, you're either self-sufficient or you're fucked on import prices. At least that's my (very, very) layman's understanding.

edit: I'm assuming you mean why keep the £ rather than establish their own. Cos I guess joining euro is a tough sell to nervous voters right now.
 

droid

Beast of Burden
AFAIK, its mainly just a real pain in the arse. Took us six years to come up with one after independence, and then we were directly pegged to sterling for another 50 years, and even after that it took the euro to break the bond completely.
 

IdleRich

IdleRich
I don't think they could join the euro though so the choices are pounds or a new currency.
Loving the panic as the establishment suddenly wakes up to the fact that it might actually happen. I think it will in fact. If the headlines are to be believed then the Queen will be very upset.
 

Mr. Tea

Shub-Niggurath, Please
edit: I'm assuming you mean why keep the £ rather than establish their own. Cos I guess joining euro is a tough sell to nervous voters right now.

Yes, that's what I meant. But are those the only two options? What's to stop Scotland having its own pound? Or rather, poond? They've got their own banks, some of which - unlike banks based elsewhere in the UK, other than the BoE - already print their own notes. (Much to the chagrin of anyone who's ever tried to spend one in an English pub.)
 

Mr. Tea

Shub-Niggurath, Please
I don't think they could join the euro...

Do you mean, it wouldn't be economically feasible, or the European Central Bank wouldn't let them?

I understand there are - in theory - quite stringent criteria that a country has to meet before it can join the Euro. But I've also heard that only about two of the existing Eurozone countries ever strictly qualified in the first place, and some (Greece) weren't within a million miles of qualifying.
 
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IdleRich

IdleRich
In theory I think a country has to have had its own stable currency for several (I forget how many) years before it can join the euro. Maybe they can get round it but seeing as how the question seems to be whether a Scottish currency would be stable then you'd think not. The whole point is that you can join the euro once stability has been demonstrated, not that you can use the euro to save you from instability.
 

paolo

Mechanical phantoms
Cameron, Miliband and Clegg are coming up here to persuade us to stay in the union





 
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