Scottish Referendum Part 2 - Electric Boogaloo

[d000hg]

Couldn't they peg their interim currency to sterling or euro? If it's a transitory thing - we know they're leaving before we Leave - deals could surely be done. This is international diplomacy not science, anything can happen if people are willing to agree to it.

[BlasterBates]

If the price of oil rises in two years, which in spite of the recent drop is a credible scenario, Scotland will actually end up with a strong currency. The currency in effect will go up and down with the oil price just as it does in Canada or Norway. Scotland is in a much better position for independence with a rising oil price trend.

[scooterscot]

Why would Scotland joining the EU be a huge degree of change when Scotland's already been in the EU for 25 years?

There's so much volatility such question cannot expect to have sensible answers. Poverty, even among working classes, needs to stop. That means getting away from Tory rule.

[VectraMan]

We would have to get our own currency and then commit to joining the Euro. Our new currency would instantly devalue while our mortgages would remain in sterling.

And we have to commit to a 3% deficit while it is 9.8% just now. That would mean a 14% drop in public spending.

it would be madness and the SNP know it now.

That's purely economic, but on the plus side Scotland qualifies in every other way and has already implemented EU rules. So that's a huge time saver compared to a new country joining.

And joining the Euro isn't necessarily a given; Poland and Hungary to name two haven't.

Brexit is tearing up everything anyway. It's like being told to scrap the code base and start again but insisting it has to be the same.

[chopper]

There's so much volatility such question cannot expect to have sensible answers. Poverty, even among working classes, needs to stop. That means getting away from Tory rule.

And yet Ruth Davidson - a Tory - is currently more popular in Scotland than Sturgeon.

[scooterscot]

And yet Ruth Davidson - a Tory - is currently more popular in Scotland than Sturgeon.

[minestrone]

Couldn't they peg their interim currency to sterling or euro? If it's a transitory thing - we know they're leaving before we Leave - deals could surely be done. This is international diplomacy not science, anything can happen if people are willing to agree to it.

You can only peg a currency to a similar economy moving at a similar speed.

If it was that easy we would have pegged the pound to the dollar on the eve of the brexit vote.

[minestrone]

If the price of oil rises in two years, which in spite of the recent drop is a credible scenario, Scotland will actually end up with a strong currency. The currency in effect will go up and down with the oil price just as it does in Canada or Norway. Scotland is in a much better position for independence with a rising oil price trend.

The projections for earnings are pretty bleak even if oil returns to $110.

The industry is finished.

[PurpleGorilla]

Why would Scotland joining the EU be a huge degree of change when Scotland's already been in the EU for 25 years?

You would need to re-join as a new member.

That's not a simple task. Especially when you have no money.

[BlasterBates]

The projections for earnings are pretty bleak even if oil returns to $110.

The industry is finished.

If the oil price were to go up there is plenty of scope for keeping production levels at least constant if not raising them.

North Sea oil and gas production to reverse 15 years of decline - Telegraph

Extraction technologies have blasted away the predictions of a demise in oil production.