Reply to: Will England lose control of Scotland today?

[Old Greg]

Christ, you sound like a teenager who's found the keys to the buckie cellar.

FTFY

[jemb]

We get 8% of the reserves of the BOE (Must a billions) and we have a ton of oil.


HTH

...that is nowhere near enough to even cover the reserve required for sterlingisation. We will not be able to borrow against future oil extraction at a reasonable rate - as it is we'll be borrowing at a higher rate than the RUK.
In order to get a proportion of the reserves in the BoE we will need to accept a share of the debt.

[JustinTime]

We get 8% of the reserves of the BOE (Must a billions) and we have a ton of oil.


HTH

Christ, you sound like a teenager who's found the keys to the wine cellar.

[Old Greg]

We get 8% of the reserves of the BOE.

Is that with or without reneging on the debt?

[Unix]

...especially as the Public Sector has been told it will expand which it will need to do to hand out the increased benefits that the Yes campaign has been promising.

If, IF, there is a Yes vote we will have to borrow big to deal with the cash reserves required to support sterlingisation (and get in the EU), to pay for the eye watering costs of independence (cash which'll fund contractors for decades) and also to pay for the bonkers promises they've been making...

We get % of the reserves of the BOE (Billions) and we have a ton of oil (trillions). Money isn't going to be the problem


HTH

[jemb]

It's going to be rather difficult for King Salmond to fulfil all his promises if he has no money to spend and has to lay off half the public sector isn't it?

...especially as the Public Sector has been told it will expand which it will need to do to hand out the increased benefits that the Yes campaign has been promising.

If, IF, there is a Yes vote we will have to borrow big to deal with the cash reserves required to support sterlingisation (and get in the EU), to pay for the eye watering costs of independence (cash which'll fund contractors for decades) and also to pay for the bonkers promises they've been making...

[tractor]

...

But we'd be living within our means. They way a small country should be.

Isn't austerity one of the grievances though? How are the yessers going to feel when they get more of the same?

[Old Greg]

It would be an engine of change. Change is needed. There's too many public sector jobs for starts.

You would see complete economic collapse.

[JustinTime]

But we'd be living within our means. They way a small country should be.

Ha-ha-ha... Brilliant, best one so far.

[DiscoStu]

It would be an engine of change. Change is needed. There's too many public sector jobs for starts.

It would be a source of great amusement looking in from the outside.

[DiscoStu]

But we'd be living within our means. They way a small country should be.

It's going to be rather difficult for King Salmond to fulfil all his promises if he has no money to spend and has to lay off half the public sector isn't it?

[scooterscot]

No debt and no borrowing and a balanced budget, so huge public spending cuts and lay offs alongside the need to establish the structures on an independent state. Outside of the EU. RUK considers iScotland to be a debtor in default. No foreign currency reserves. No currency union, so sterlingisation or own currency.

What kind of economic collapse do you think that would create?

It would be an engine of change. Change is needed. There's too many public sector jobs for starts.

[scooterscot]

You're not going to have much to spend then, are you?

But we'd be living within our means. They way a small country should be.

[Old Greg]

So you'd prefer option A?

A) Up to eyeballs in credit card debt. No hope of paying it back. But hey we've got a good credit rating!

B) No debt, no interest rate payments, we spend what earn.

No debt and no borrowing and a balanced budget, so huge public spending cuts and lay offs alongside the need to establish the structures on an independent state. Outside of the EU. RUK considers iScotland to be a debtor in default. No foreign currency reserves. No currency union, so sterlingisation or own currency.

What kind of economic collapse do you think that would create?

[DiscoStu]

So you'd prefer option A?

A) Up to eyeballs in credit card debt. No hope of paying it back. But hey we've got a good credit rating!

B) No debt, no interest rate payments, we spend what earn.

You're not going to have much to spend then, are you?