Salmond "We can take Scotland in two weeks"

[eek]

I'm not struggling to see through the blue mist at all. I was just trying to lead you towards saying some of the things youn just said above :-)

So, if we rise above the '**** off, you're a bunch of subsidy junkies' AND the 'We'll keep our oil and you'll be ****ed' brigade, and look at this sensibly........

Scotland CAN keep the pound (either by currency union or the panama model). England is (I think) Scotland's biggest export market and Scotland (i think) is England's second biggest export market, so, bearing in mind that and the balance of payments issues and GDP Vs debt issues, is the UK government not currently taking a piss on it's own birthday cake with the 'Definitely no currency union' stance, as a currency union, with terms agreed by both countries, not as much in the interests of rUK as it is for Scotland ? For a start, it would quell some market fears.

The problem is that currency union = a central bank setting interest rates and acting as a bank of last resort...

That is fine if everyone wants the same thing but awful if (as in Europe) you have no say and the economics interests of a larger area (Germany or England) overrides the interests of your area (Greece / Ireland or Scotland). And as Scotland would at most get 1 vote out of 9 even if you had monetary union I really don't think the view would have an clout.

While it makes sense on 1 level to have monetary union its insane on all other levels as it removes the economic flexibility a floating currency gives you...

The really worrying thing is that the Yes campaign leadership should know this. Its been standard macro economic theory for years that monetary union requires political union to be effective and the Euro has spent 12 years proving that fact. Yet Salmond with an economics degree seems to be unable to see the flaws in his plan.

Either way its irrelevant. Gordon Brown is campaigning for Better Together so Yes will win....

[Batcher]

From what I understand Scotland would not be allowed to keep the pound. This will presumably mean that the Scottish banks will rlocate to the UK and leave Scotland having to start their own currency.

The banks will more than likely split up. For example, RBS in England will be rebranded as NatWest with HQ in London. The smaller version of RBS will remain in Scotland. The EU rules say you should have the HQ where the majority of your customers are so this would get around it.

[Batcher]

8.3% of the current UK's population lives in Scotland so the assets could get split but the rUK would get the vast majority of them.

As they would get the vast majority of the debt.

It's not all about the oil but from getting 8.3% of oil money back from the Treasury to getting 100% from independence. Utopia here we come

[eek]

As they would get the vast majority of the debt.

It's not all about the oil but from getting 8.3% of oil money back from the Treasury to getting 100% from independence. Utopia here we come

There is an interesting scenario where Orkney and Shetland vote to remain in the union and they are granted the right as part of the negotiations.

What would Scotland do if rUK accepted their desire and made it part of any agreement...

[TestMangler]

From what I understand Scotland would not be allowed to keep the pound. This will presumably mean that the Scottish banks will rlocate to the UK and leave Scotland having to start their own currency.

JHC on a bike ? Exactly how thick are you ??? The pound is an internationally tradable currency.

That means the People's Front of Jebrovia, could, if they so wished, and if they existed, set up their 'country' wherever they wanted and use the pound as currency, buying their pounds on the open market using whatever tradable commodity they happened to be rich in.

if you look back on what I said, Scotland can keep the pound, that is 100% a fact. The question is, is it the pound in a currency union or a pound by the panama model.

[TestMangler]

There is an interesting scenario where Orkney and Shetland vote to remain in the union and they are granted the right as part of the negotiations.

What would Scotland do if rUK accepted their desire and made it part of any agreement...

Missed this in the papers, when is that vote taking place ??

[JustinTime]

An interesting choice of smilie; I've often regarded the Nats, and their familiars, as headbangers.

[shaunbhoy]

There is an interesting scenario where Orkney and Shetland vote to remain in the union and they are granted the right as part of the negotiations.

What would Scotland do if rUK accepted their desire and made it part of any agreement...

I asked that question on another forum. Apparently they would only get access to a 12-mile zone of surrounding waters. Oddly enough, the rest of Scotland don't seem to have any such restrictions................according to some of the hysterical YES campaigners.
Honestly, it is as if the kids have got hold of the keys to the drinks cabinet and, having emptied it, are now joyriding in the car.

[eek]

Missed this in the papers, when is that vote taking place ??

September 18th.

[TestMangler]

September 18th.

And you call the scot Nats fantasists

So, maybe if Newcastle or Cumbria votes against the Torys at the next election, they'll be made to join Scotland as part of the negotiations.

If your auntie had balls, she'd be your uncle.

It's hardly an interesting question.