Not a pound of debt...

[AtW]

Whether or not Salmond can actually negotiate zero debt rather depends on what else Scotland want post independence.

It's not even point of negotiation if Scotland can't use pound - no sane state (especially new) would take on state debt denominated in foreign currency.

[AtW]

Paid for by the US ergo they took the debt on - how it originated wasn't part of your specification

If you wish to revisit your original question, then I may have an alternative answer

Ok, point taken, I'll be more careful in the future...

[GB9]

No pound, no debt, says Salmond

Business news and markets: live - Telegraph

Well, as predicted cretin Osborne just ended up with all the debt. Is there any ex-UK colony that took on any debt, nevermind denominated in sterling?

Can't blame Osborne as all leaders agreed.

And we own their banks. I suggest we relocate them back to England. That'll do wonders for the Jock economy.

[VectraMan]

Presumably they are going to expect their citizens to be able to cross the border at will, not show a passport, work in the uk etc whereas it's quite possible an independent scotland could be treated more like eire, with the exception that scots won't have an automatic right to work in the uk, as they won't be in the eu. So there will need to be some negotiating there.

Does anybody really want passport controls and customs? That'd be a nightmare. But you're right: there are a million other things that need to be negotiated.

I remember crossing by car from NI to Eire pre-EU. There was a bloke in a box who just nodded when he saw us, and we carried on. Of course then there was an army checkpoint who were a little more serious about it all.

[doodab]

It's not even point of negotiation if Scotland can't use pound - no sane state (especially new) would take on state debt denominated in foreign currency.

Well what currency would new debt be denominated in?

[DodgyAgent]

Even if there is no debt when Scotland gain independence the socialists will start borrowing like fury in no time.

[doodab]

Does anybody really want passport controls and customs? That'd be a nightmare. But you're right: there are a million other things that need to be negotiated.

I remember crossing by car from NI to Eire pre-EU. There was a bloke in a box who just nodded when he saw us, and we carried on. Of course then there was an army checkpoint who were a little more serious about it all.

We'll have to have them, as with them outside the EU we'll have to control and tax imports of whiskey.

I wonder how many of the foreign semiconductor firms will relocate to remain in the EU.

[ASB]

Even if there is no debt when Scotland gain independence the socialists will start borrowing like fury in no time.

The initial budget I saw was well out of balance. There were 2 version. One which assumed 90% of oil revenues and one where it was somewhat different (presumably based on existing maritime borders).

But, with some new currency, no backing of it by any foreign reserves, and only oil revenues to play with (which they have of course already spent in the unbalanced budget) then it is a bit difficult to see quite how they are going to borrow.

Especially since they are, in effect, starting from a bloody great default.

[AtW]

Well what currency would new debt be denominated in?

$cottish $overeigns until such point euro zone entry agreed.

Rate - 1 $$ to 10 GBP.

HTH

P.S. I'd be happy to run Scottish Central Bank for $$ 100000 per year...

[DodgyAgent]

$cottish $overeigns until such point euro zone entry agreed.

Rate - 1 $$ to 10 GBP.

HTH

P.S. I'd be happy to run Scottish Central Bank for $$ 100000 per year...

For 20% I would be happy to let you