Salmond "We can take Scotland in two weeks"

[Batcher]

Link?

BBC News - Scottish independence: Treasury makes debt pledge

[Old Greg]

BBC News - Scottish independence: Treasury makes debt pledge

So the UK will honour the debt if Scotland does not take on its share. The question remains:

In these circumstances, is there a significant risk that this will be treated by the credit rating agencies as a default by Scotland?

[Unix]

So the UK will honour the debt if Scotland does not take on its share. The question remains:

In these circumstances, is there a significant risk that this will be treated by the credit rating agencies as a default by Scotland?

Did you not read the link? They have agreed regardless of what happens. Now they obviously expect Scotland to take a share but that will only happen if Scotland gets what it wants. So it is actually impossible to default on a yes vote. Again scaremongering because if rUK play hardball then Scotland has every right to do the same and that will be obvious to the markets.

[Old Greg]

Did you not read the link? They have agreed regardless of what happens. Now they obviously expect Scotland to take a share but that will only happen if Scotland gets what it wants. So it is actually impossible to default on a yes vote. Again scaremongering.

Yes, I read the link thank you. The question is:

In these circumstances, is there a significant risk that this will be treated by the credit rating agencies as a default by Scotland?

[Batcher]

Yes imagine if you did that. It would be hilarious. You'd certainly find out what "Oppression" was then.

The thing with NATO is it's a club. You can apply to join but they can knock you back unless you agree to it's terms. If you don't agree to those terms you can walk away. Who is actually going to threaten Scotland anyway if we don't take part in illegal wars in other people's lands?

Scotland is a very strategic land mass in the northern Atlantic so even as a non-nuclear nation would be attractive to NATO. If we weren't a member and someone like Russia threatened to annexe us then I'm sure NATO would join us up PDQ.

[Unix]

Yes, I read the link thank you. The question is:

In these circumstances, is there a significant risk that this will be treated by the credit rating agencies as a default by Scotland?

Nope I don't think so, if someone agrees to take on your debt legally you can't default.

[Old Greg]

Nope I don't think so, if someone agrees to take on your debt legally you can't default.

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

However asked about the negative consequences of not taking on any debt, Mr Beveridge said: "The economists answer [is] obviously it has to be managed very carefully. Many people will call it a default.
"Technically, if you talk to economists, they will tell you it's not because since you never owned the debt in the first place you're not defaulting on it. But they are not rating agencies."
He added that credit rating agencies would think that such a move "looks like a default and it smells like a default", raising the possibility of Scotland losing credibility with the financial markets.

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

[Batcher]

Yes, I read the link thank you. The question is:

In these circumstances, is there a significant risk that this will be treated by the credit rating agencies as a default by Scotland?

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.

[tomtomagain]

The thing with NATO is it's a club. You can apply to join but they can knock you back unless you agree to it's terms. If you don't agree to those terms you can walk away. Who is actually going to threaten Scotland anyway if we don't take part in illegal wars in other people's lands?

Scotland is a very strategic land mass in the northern Atlantic so even as a non-nuclear nation would be attractive to NATO. If we weren't a member and someone like Russia threatened to annexe us then I'm sure NATO would join us up PDQ.

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

[Old Greg]

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.

Mr Beveridge seems to think there is a significant risk that it will be treated as default.

And when you say asset, are you still claiming that sterling is an asset?