Scotland's new currency

[scooterscot]

But Salmond, who claims to have once been an economist for BOS, though that it was short selling that was causing the BOS problems, when it was announced it was mismanagement he completely disappeared for 3 weeks. He cant be trusted.

Agreed. And name me a politician that can be trusted?

Regardless of the micro economics, ones opinion which way the wind will blow on Sep 19th, there's an opportunity for people living in Scotland to break away from the corrupt elitist establishment if they so wish.

All the first minister needs to do is present a strong economic case.

[doodab]

Well I cant actually see what the 30% refers to but over those years I would imagine a 30% increase was made by most financials in Europe if not the world on a great many of the statistics you could use to measure financial centre growth. They are marketing Edinburgh as well so will use the best figure they have. To suggest it has become distorted by recent growth is wrong.

I'm not saying anything is distorted, I'm just saying that Edinburgh has raised it's profile considerably over the last 15 years or so relative to it's competitors. This is undoubtedly true, it's been a real success story for UK PLC and it's disingenuous to suggest that having the same regulatory environment and so forth as the worlds #1 financial centre hasn't played it's part in that. Being part of the UK has been part of it's competitive advantage and that will cease to be the case if it's not in the UK anymore, never mind that for UK institutions that aren't interested in setting up shop outside the UK leaving will literally rule Edinburgh out as an option.

[petergriffin]

So Scooters, what's your plan B? It's obvious at this point that you won't use the English pound, so isn't it time to just get over it and come up with some sensible economic and financial strategy?

[vetran]

So Scooters, what's your plan B? It's obvious at this point that you won't use the English pound, so isn't it time to just get over it and come up with some sensible economic and financial strategy?

It's what the economists call the 'begging bowl'

Strategies include 'lend us a fiver' or 'when is my giro coming'?

sorry you scots thinking you can put two fingers up to the English but keep the UK pound and walk away debt free, you can't be that naive surely?

Wish you luck but you will be on your own if our masters have any sense.

[Doggy Styles]

sorry you scots thinking you can put two fingers up to the English but keep the UK pound and walk away debt free, you can't be that naive surely?

Yes they can. Well, scooter haw-haw and atw can. And they usually are!

[scooterscot]

sorry you scots thinking you can put two fingers up to the English but keep the UK pound and walk away debt free, you can't be that naive surely?
.

I don't think anyone is suggesting walking away from the debt but without a currency union the option to divide UK gilts is no longer available.

However I believe no one in Scotland would have backed a bailing out of the banks and followed the Iceland were they given the choice. So walking away from the debt, created by the city, would be an option in many folks eyes.

[Bunk]

I don't think anyone is suggesting walking away from the debt but without a currency union the option to divide UK gilts is no longer available.

However I believe no one in Scotland would have backed a bailing out of the banks and followed the Iceland were they given the choice. So walking away from the debt, created by the city, would be an option in many folks eyes.

Except the people who matter.

[petergriffin]

However I believe no one in Scotland would have backed a bailing out of the banks

Gordon Brown was the inventor of bail outs (remember the "When we saved the world" slip of the tongue?) and if I'm not wrong he's Scottish and wanted to rescue a Scottish bank.

and followed the Iceland were they given the choice.

The Icelanders did not default because they wanted, but because they did not have the money to bail their banks out.

[doodab]

I don't think anyone is suggesting walking away from the debt but without a currency union the option to divide UK gilts is no longer available.

However I believe no one in Scotland would have backed a bailing out of the banks and followed the Iceland were they given the choice. So walking away from the debt, created by the city, would be an option in many folks eyes.

So where do you think that would have left confidence in the scottish financial system and interest rates? What sort of conditions do you think the IMF might have imposed in return for replacing the funding you could no longer get from the market?

[petergriffin]

? What sort of conditions do you think the IMF might have imposed in return for replacing the funding you could no longer get from the market?

If Scotland joined the Euro (assumed the EU would accept Scotland in) then the ECB would buy Scottish debt at reduced rates, just like they have been doing with Italy, Spain, Greece and Ireland.