Salmond "We can take Scotland in two weeks"

[Unix]

See BetFair are paying out on No bets? Owner is a Tory donor though. Given the polls they either they know something we don't, its a publicity stunt or they don't want anymore yes bets.

[Old Greg]

See BetFair are paying out on No bets? Owner is a Tory donor though. Given the polls they either they know something we don't, its a publicity stunt or they don't want anymore yes bets.

BetFair and still offering 1/4 on a No vote. Can I place a bet and then instantly claim? Seems as unlikely as a Scottish government currency plan.

[Unix]

What do you make of Crawford Beveridge's views (chair of the First Minister's Fiscal Commission Working Group).



'Entirely possible' Scotland won't share pound after independence, Alex Salmond's top economist admits - Telegraph

It could be seen that way if Scotland never offer in negotiations to take on the debt, but if they offer and it's rejected then no.

i.e. Scotland will be saying we are willing and able to take on the debt and can easily afford it but rUK doesn't accept. Rating agencies will be satisfied as all they care about is the ability and willingness to pay..

[TestMangler]

What do you make of Crawford Beveridge's views (chair of the First Minister's Fiscal Commission Working Group).



'Entirely possible' Scotland won't share pound after independence, Alex Salmond's top economist admits - Telegraph

So you accept his view that there may not be a currency union, but you reject his view that not having a currency union is bad for rUK ?

[Old Greg]

It could be seen that way if Scotland never offer in negotiations to take on the debt, but if they offer and it's rejected then no.

But if their offer is conditional on sharing a fictional asset of sterling, then that isn't a real offer. That's a blackmail attempt.

If all real assets are shared and Scotland does not take on its share of the debt, then that will probably "smell like a default".

[Unix]

But if their offer is conditional on sharing a fictional asset of sterling, then that isn't a real offer. That's a blackmail attempt.

If all real assets are shared and Scotland does not take on its share of the debt, then that will probably "smell like a default".

Scotland can use sterling without anyone's approval, currency union is about having the assets of the BOE standing behind it. Are you telling me the Gold and reserves in the BOE are not assets?

[Old Greg]

So you accept his view that there may not be a currency union, but you reject his view that not having a currency union is bad for rUK ?

This is how it works, TM.

The guy has a position. He is working for the Scottish government so on the Yes side. Yet even he admits the weaknesses of the Scottish government position of reneging on the debt. So when someone admits a weakness in their position, you tend to believe them. What's in it for them to make up a weakness?

I think a CU is bad for EWNI and iScotland, because it leaves Scotland hampered by London fiscal policies. That doesn't suit either side.

[jemb]

Not this in itself as it was merely a commitment to stop the markets getting jittery so there has been no default.

There is 18 months of talking to be done and I'm sure Scotland will take it's share of debt as it has promised if we get a share of the assets.

No, I'm not saying there will be a CU .

I do think there will be a CU but nothing is certain until they start talking. You can't compare Germany and Greece to rUK and Scotland as we will be two pretty well off countries within a CU which will work better. I'm also of the opinion that it will be temporary for a few years before Scotland establishes it's own central bank and currency.

The only currency Scotland will be taking, other than Sterling, would be the Euro
A standalone currency would take years and the point at which such a position is taken is critical - Scotland would have to have overcome all the pain of a separation and emerged the other side with a healthy economy, we would then have to agree how debt - your mortgage for example - is repriced with the very real danger of a fall in the value of a new currency and soaring borrowing costs. In fairness to the 'Yes' team they have distanced themselves from this as they know it could kill an independent Scotland for generations if mishandled.

Saying we'll have a new currency is just way too glib and way too far in the future to even consider in this debate. Really.

[Old Greg]

Scotland can use sterling without anyone's approval, currency union is about having the assets of the BOE standing behind it. Are you telling me the Gold and reserves in the BOE are not assets?

The gold and reserves are assets and will be shared. But the currency is not an asset, but a means of exchange.

Scotland can of course use sterling without anyone's approval, but in the absence of a central bank, will it be allowed in the EU?

[Batcher]

So your world view-point is that you think you deserve a free-ride on everything and that nobody will object.

Can you point out where I mentioned a free ride on everything?

I said we held a strategic position and therefore would be attractive as a NATO member even without WMDs on the Clyde.