Scotland warned it could lose the pound and be forced to join Euro

[The_Equalizer]

When I was in Glasgow many years ago taxi driver gave me change with Scottish fiver - for a mooment I thought it was fake five quid, later in England canteen in the company I worked for refused to take it saying there is no legal tender or something

You should see the notes in Northern Ireland. Those really confuse people back in Blighty. There are five different banks issuing their own notes. Still Morrisons self service till seamed happy to eat them.

For the record, I think notes from Scotland and NI are similar to cheques in their legal standing.

[TestMangler]

When do the English get a vote on kicking Scotland out? Or maybe on Independence for England?

No one is voting to 'kick anyone out' you twat

If England wants to leave the UK, vote in a party that supports such a move at the next general election and organise a referendum. It's not difficult if there is enough support for it.

If Scotland is such a financial burden why do the leaders of the Uk parties want to fight so hard to keep it in the UK ? Can't be political motives in Cameron's case. He's got nothing to gain in terms of party support. There are more fucking pandas in Scotland than there are Tory MPs

[Mich the Tester]

I would.

'You would' whom? Pics please.

[Ignis Fatuus]

A spokesman for David Cameron said there were no guarantees that the Scots could keep sterling if they voted against remaining affiliated with the rest of the union.

Mr Cameron’s spokesman said: “Once you start asking the question about independence, one part of that is what currency to have. Would Scotland retain the pound, and if so, how does that work? Or does it join the euro? That’s one part of the independence question.”

Source: Scotland warned it could lose the pound and be forced to join Euro as price of independence - Telegraph

AtW's political comment: is this the worst threat Westmister can master?!?!

There's a lot of FUD going on here. Among the more obvious possibilites are:

1. Keep using Sterling. Nobody can stop Scotland doing that. Obviously it would not be Scotland's own currency to meddle with, but it is feasible. Not a good idea IMHO because currency manipulations that are designed for England/UK and not for Scotland are part of the problem.
2. Use Scottish pounds but tie them to Sterling. See for example formerly Irish Punt to Sterling, or Dutch Guilder to Deutschmark. Works fine. Could be done interim for stability, insofar as Sterling can be called stable.
3. Use Euro without joining Euro. See #2, not great but could be done.
4. Join Euro.
5. Just use Scottish pounds.

Incidentally I am not impressed by the FUD that suggests on the one hand that Scotland might not be allowed to join the EU, and on the other hand that Scotland might be forced to join the Euro. Try the EEA with Scottish Pounds. That works for me.

[DodgyAgent]

No one is voting to 'kick anyone out' you twat

If England wants to leave the UK, vote in a party that supports such a move at the next general election and organise a referendum. It's not difficult if there is enough support for it.

If Scotland is such a financial burden why do the leaders of the Uk parties want to fight so hard to keep it in the UK ? Can't be political motives in Cameron's case. He's got nothing to gain in terms of party support. There are more fucking pandas in Scotland than there are Tory MPs

For an assessment of the economic outcomes of Scottish Independence:

An independent Scotland would struggle for AAA rating - Telegraph

The Scottish drive for independence may well prove to be a lesson for the Eurocrats on what may happen to the European Union. Scotland has long and close ties with the UK and its people have considerable power and influence over Westminster yet they still want "out".

Roll the clock forward and we will see a fully politically and economically integrated Europe with 27 member states with far more diverse cultures than the differences between the Scots and Brits. In a Union controlled by Germany and France and a populace with very little democratic influence (in contrast to the influence wielded by only 5 million Scots in a population of 70 million) just think how Nationalist movements will grow and gather momentum to gain independence.

Scotland should have its independence for the very same reasons that the UK should not join the Euro - to be free to take their own decisions and take responsibility for the decisions that they make.

Scotland should have its independence and enjoy being able to stand on its own two feet. As for the scots not being allowed to join the EU, if they bent over backwards to let the Greeks join the Euro they will hardly throw up any objections to Scotland joining the EU. And even if Scotland does not join the EU what difference will it make anyway?

[doodab]

You should see the notes in Northern Ireland. Those really confuse people back in Blighty. There are five different banks issuing their own notes. Still Morrisons self service till seamed happy to eat them.

For the record, I think notes from Scotland and NI are similar to cheques in their legal standing.

Going the other way, English notes are apparently not legal tender in Scotland or NI.

Legal Tender Guidelines

[The_Equalizer]

Going the other way, English notes are apparently not legal tender in Scotland or NI.

Legal Tender Guidelines

I hear English notes are worth double in both countries.

[doodab]

There's a lot of FUD going on here. Among the more obvious possibilites are:

1. Keep using Sterling. Nobody can stop Scotland doing that. Obviously it would not be Scotland's own currency to meddle with, but it is feasible. Not a good idea IMHO because currency manipulations that are designed for England/UK and not for Scotland are part of the problem.
2. Use Scottish pounds but tie them to Sterling. See for example formerly Irish Punt to Sterling, or Dutch Guilder to Deutschmark. Works fine. Could be done interim for stability, insofar as Sterling can be called stable.
3. Use Euro without joining Euro. See #2, not great but could be done.
4. Join Euro.
5. Just use Scottish pounds.

Incidentally I am not impressed by the FUD that suggests on the one hand that Scotland might not be allowed to join the EU, and on the other hand that Scotland might be forced to join the Euro. Try the EEA with Scottish Pounds. That works for me.

I don't think we can stop Scotland using Sterling but obviously they wouldn't be able to issue it so they would have to obtain banknotes from us in exchange for something else.

Any notes & coins issued by the Scottish bank would not be sterling, by definition, and although they might try and peg the exchange rate with Sterling experience tells us that is doomed to failure without fiscal and political union.

[swamp]

They should bring back the Scottish Groat. It would be worth one bowl of porridge or half a haggis.

[TheFaQQer]

I don't think we can stop Scotland using Sterling but obviously they wouldn't be able to issue it so they would have to obtain banknotes from us in exchange for something else.

Current official users of the pound as currency are:

• British Antarctic Territory
• Falkland Islands
• Gibraltar
• Guernsey
• Isle of Man
• Jersey
• Saint Helena, Ascension and Tristan da Cunha
• South Georgia and the South Sandwich Islands

Some of those also have their own variant pegged to the pound. Zimbabwe still unofficially uses the pound as their currency. Scottish notes and NI notes are also pegged to the pound.

Chances of the rest of the union forcing Scotland to change currency are nil - for a start, they'd have to recall and replace all the Scottish £1 coins....