Salmond "We can take Scotland in two weeks"

[Old Greg]

I don't think we will get into the EU without joining the euro, I think that is essentially what is happening to Iceland.

Compromises will be found on the Euro and Common Travel Area (but not on the central bank I think).

[Batcher]

So your Plan A is CU, which none of the UK parties want.
Your Plan B might be allowed.

Just stop the nonsense and be honest about the pound scots, maybe with a Sterling Peg. You'll get in the EU then, no problem and I think make a real go of it. But the dishonesty of the CU Plan A / Panama Plan B is shocking.

It's not my plan A and it's not my plan B

I'm not an economist so I will leave it to the experts when the time comes to negotiate. I'll just be happy to be in an independent Scotland at last

[minestrone]

I just cant see our own currency being an acceptable solution, it would lead to massive instability. It is the euro or the pound and we wont have control of either. The whole thing is a absolute disaster.

I just don't think many of the nationalists understand this, they cant, nobody who understands the subject would vote for a plan which is really "lets see what happens".

[minestrone]

It's not my plan A and it's not my plan B

I'm not an economist so I will leave it to the experts when the time comes to negotiate. I'll just be happy to be in an independent Scotland at last

See what I mean.

[Batcher]

See what I mean.

[VectraMan]

I just cant see our own currency being an acceptable solution, it would lead to massive instability. It is the euro or the pound and we wont have control of either. The whole thing is a absolute disaster.

I just don't think many of the nationalists understand this, they cant, nobody who understands the subject would vote for a plan which is really "lets see what happens".

Independent countries have their own currency; that's what they do. I can't understand why anyone who's pro-independence wants to back a solution that hands over financial control to London. Even with a currency union, it's not going to be 50-50. The BofE will have to put the interests of the 65million people of rUK above that of Scottish economy on interest rates etc., and isn't that exactly what the Scots are complaining about?

[minestrone]

A new currency value would fluctuate wildly initially. Would be disastrous for business.

[Old Greg]

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.

A new currency value would fluctuate wildly initially. Would be disastrous for business.

Pegging is the answer. The Bermudian dollar manages to peg to the USD. Not a perfect solution but very workable. Bermudian dollar - Wikipedia, the free encyclopedia

[BrilloPad]

A new currency value would fluctuate wildly initially. Would be disastrous for business.

Most of the business would already have gone to England. It would not be good for Scotland.

[SueEllen]

Pegging is the answer. The Bermudian dollar manages to peg to the USD. Not a perfect solution but very workable. Bermudian dollar - Wikipedia, the free encyclopedia

Remember the ERM?

You can peg but at some point it may become unsustainable and if your politicians don't realise in time you have a recession on your hands.