If it's a 'yes' then they'll introduce the new currency and the new rip off prices will become apparent, their currency would be worth less than the Nigerian Naira (just look at the Scottish GDP in comparison to said country).
Consumer goods would be more expensive which are imported due to their new devalued currency relative to the old pound sterling.
The procedures and processes would have to be updated (more costs), think about the army, Royal mail, banking etc. (good for IT contractors though). No economic aid from Europe as would be a non-member. With currency conversions it would be more hassle to do trade with England/Wales/Northern Ireland and if there is political hostility then trade levies could be introduced. If 'yes' I can see a right mess.
Consumer goods would be more expensive which are imported due to their new devalued currency relative to the old pound sterling.
The procedures and processes would have to be updated (more costs), think about the army, Royal mail, banking etc. (good for IT contractors though). No economic aid from Europe as would be a non-member. With currency conversions it would be more hassle to do trade with England/Wales/Northern Ireland and if there is political hostility then trade levies could be introduced. If 'yes' I can see a right mess.
Comment