Are we fed up of the Scotland "it's all about me" in / out referendum.

[stripeyshark]

It's wrong for them and for us. But if they want to go then go, and make sure that people with a Scottish birth certificate can't sit in an English parliament.

I think you will find it is more about egotists wanting to leave a legacy rather than the will of the people

Nail. Head.

 

[beorhthelm]

i've found it confusing how the SNP want to end rule from Westminster and immediately begin rule from Brussels.

 

[glasfryn]

It's wrong for them and for us. But if they want to go then go, and make sure that people with a Scottish birth certificate can't sit in an English parliament.

or take English jobs
and take the Welsh with them

 

[Pavilionaire]

The UK would not be able to stop the Scots from using sterling anymore than the US could stop them using the dollar.

Of course doing so would mean they'd have no control of interest rate policies or the like and it would be difficult for them to obtain international funding without their own currency.

As an interim measure though it is likely that an independent Scotland would continue to use Sterling, with or without the UK's agreement, until a new currency could be established - in the same way the US did after they gained Independence.

The UK government website has ruled out any sort of currency union and made it clear an independent Scotland would not be allowed to use Sterling. And whilst the website is clear on why it thinks the union should be maintained there is very little information about what an independent Scotland will do in the event they cannot use Sterling. This is a huge issue.

 

[Creaky]

The UK government website has ruled out any sort of currency union and made it clear an independent Scotland would not be allowed to use Sterling. And whilst the website is clear on why it thinks the union should be maintained there is very little information about what an independent Scotland will do in the event they cannot use Sterling. This is a huge issue.

There is a difference between a currency union and Scotland using Sterling. The UK simply could not stop an independent Scotland from using Sterling as a currency.

 

[Dorset Seagull]

There is a difference between a currency union and Scotland using Sterling. The UK simply could not stop an independent Scotland from using Sterling as a currency.

Interesting point but if they decided to use the US Dollar where would they get them from? Presumably you cant just go printing another nations currency so they would have to get it from the US wouldn't they? Whilst we can all get a small amount of foreign currency for our hols surely a nation wouldn't be able to request billions of dollars at the drop of a hat?

 

[Pavilionaire]

The Bank Of England is responsible for producing all the UK bank notes from a site in Essex. Therefore, how would Scotland obtain the notes they need?

 

[Frampler]

Interesting point but if they decided to use the US Dollar where would they get them from? Presumably you cant just go printing another nations currency so they would have to get it from the US wouldn't they? Whilst we can all get a small amount of foreign currency for our hols surely a nation wouldn't be able to request billions of dollars at the drop of a hat?

Most American banknotes are held outside the US. It's the leading reserve currency in the World, and a number of countries including Ecuador and Panama just use the dollar as their local currency, without the approval of the US. However, those countries are considered economic basket cases, which no sane investor would touch.

 

[Creaky]

Interesting point but if they decided to use the US Dollar where would they get them from? Presumably you cant just go printing another nations currency so they would have to get it from the US wouldn't they? Whilst we can all get a small amount of foreign currency for our hols surely a nation wouldn't be able to request billions of dollars at the drop of a hat?

The vast majority of currency transactions, at a national level, are not carried out via the use of paper currency - it all amounts to confidence in the national bank. If a company in Scotland was buying from a company in another nation the transaction would be in electronic form. If the receiving bank was confident that the sending bank had the resources to honour the transaction then it would be completed in exactly the same way as it currently does.

Scottish independence wouldn't suddenly mean that the cash held by Scottish companies in Scottish banks would disappear. Any attempt by the UK to limit the use of Sterling by Scotland would probably not only cause a run on Scottish banks but also on UK banks as companies, institutions and individuals attempt to withdraw their deposits from UK banks.

George Osbourne does not have unanimous support for his policy regarding currency union, even amongst fellow ministers, but even he has not stated any policy other than ruling out a currency union - certainly not attempting to restrict the use of Sterling in Scotland.

 

[seagullsovergrimsby]

The Bank Of England is responsible for producing all the UK bank notes from a site in Essex. Therefore, how would Scotland obtain the notes they need?

So De La Rue who print the banknotes would turn down the lucrative contract to print Scottish currency in the event Scotland becomes independent ?

 

[happypig]

If I were a Scot I would be more worried about the effects of interest rates being set by England if our economies started to diverge. I would also be concerned that EU membership isn't a given; other members have already hinted that if Scotland joins then it will only be on the same terms as other new nations, not under the same terms as the UK currently enjoys.
This would be more than enough uncertainty to make me vote "NO", although Salmond and Sturgeon always come out with either "it won't happen" or "it will be ok"
I have a lot of work colleagues in Edinburgh and speaking to them about it the general attitude there seems to be "only idiots and benefit spongers are in favour"

 

[Pavilionaire]

So De La Rue who print the banknotes would turn down the lucrative contract to print Scottish currency in the event Scotland becomes independent ?

I would have thought you need a Royal Charter with government approval to be able to print any form of bank note? And clearly, the big contract for De La Rue is with the Bank Of England? It would be ironic if it the new Scottish currency was printed in England.

Either way, I cannot see how Scotland continuing to use Sterling is a viable option as the Bank Of England would still call the shots - that's not independence from England, is it?

 

[Dorset Seagull]

The vast majority of currency transactions, at a national level, are not carried out via the use of paper currency - it all amounts to confidence in the national bank. If a company in Scotland was buying from a company in another nation the transaction would be in electronic form. If the receiving bank was confident that the sending bank had the resources to honour the transaction then it would be completed in exactly the same way as it currently does.

Scottish independence wouldn't suddenly mean that the cash held by Scottish companies in Scottish banks would disappear. Any attempt by the UK to limit the use of Sterling by Scotland would probably not only cause a run on Scottish banks but also on UK banks as companies, institutions and individuals attempt to withdraw their deposits from UK banks.

George Osbourne does not have unanimous support for his policy regarding currency union, even amongst fellow ministers, but even he has not stated any policy other than ruling out a currency union - certainly not attempting to restrict the use of Sterling in Scotland.

Fascinating I had never even considered those implications. So if they say go over to the Scottish Scrote or something then all those £ Sterling in Joe Public's bank account would need to be converted somehow by presumably agreeing a date and an exchange rate. Would it automatically start as 1 Scrote for each £ and then the markets would determine the rate from there on in? All seems a bit mind blowing so please tell me that it is really very simple and there are previous examples of this that can be followed?

 

[Mannie]

I have family in Scotland and being forced to make the choice at all worries them - from down here it seems (maybe wrongly) that its one mans ego v the common sense of sticking together

 

[Green Cross Code Man]

I'm 45 and for almost all of my life a large proportion of the Scots have whinged about being ruled by Westminster whilst another large minority in the UK have whinged about being in Europe. With referendums on both issues coming up soon it will be nice to get the issue sorted once and for all, and move on.

Surely you remember they had a vote on independence in the 70's? Didn't stop the arguments from continuing until the present day unfortunately.

 

[WATFORD zero]

I have a lot of work colleagues in Edinburgh and speaking to them about it the general attitude there seems to be "only idiots and benefit spongers are in favour"

There seems to be a few political parties targeting that vote lately

 

[Pavilionaire]

The whole situation is a disaster, the public's ignorance on both sides of the border of the repercussions of Scottish independence is worrying. Ironically, 29% of voters nationally voted for the United Kingdom Independence Party in the same year the United Kingdom could be breaking up.

The Scots and the English don't know what sort of relationship they want with each other, neither knows what sort of relationship they want with Europe.

Having enjoyed the benefits of North Sea Oil it would be ironic if Scotland gained independence just at the time of a fracking and shale gas expansion in England.

 

[seagullsovergrimsby]

I would have thought you need a Royal Charter with government approval to be able to print any form of bank note? And clearly, the big contract for De La Rue is with the Bank Of England? It would be ironic if it the new Scottish currency was printed in England.

Either way, I cannot see how Scotland continuing to use Sterling is a viable option as the Bank Of England would still call the shots - that's not independence from England, is it?

De La Rue print banknotes in the UK for over 150 countries around the world. If Canada can use the Canadian $ why should Scotland be stopped from using the Scottish £ ?

 

[Soulman]

I'm 45 and for almost all of my life a large proportion of the Scots have whinged about being ruled by Westminster whilst another large minority in the UK have whinged about being in Europe. With referendums on both issues coming up soon it will be nice to get the issue sorted once and for all, and move on.

"ruled by Westminster" ??
The Scots like the Welsh and NI, have their own Parliaments and Assemblies, the other countries MP's can not vote on their issues. Unlike the issues in England where about 108 MP's from these countries can vote on our issues. England needs it's own Parliament actually.
I wonder if Labour had still been in power whether this referendum would have been a sure fire YES vote. Labour's Scottish Raj at the time were Gordon Brown, Prime Minister (seat in Kirkcaldy and Cowdenbeath) Alistair Darling, Chancellor (seat in Edinburgh West) John Reid, ex home secretary etc (Motherwell North.) Gorbals Mick (speaker of the house) etc etc.
Much of the North Sea oil areas were moved from English to Scottish waters in their time.
Navy contracts moved from Portsmouth and Barrow to Scotland.
Even McBrowns local building society/ bank, The Clydesdale Bank was bailed out, but seemed hidden due to the bail out of RBS.
So we had a PM and Chancellor who's seats were in Scotland, deciding on Scottish issues and English issues, in fact the UK.....no conflict of interest there then
I believe the vote on English tuition fees, and bringing them into parody with Scotland, was narrowly defeated.....i wonder how many of the 108 non English constituency MP's voted against that.
Have a look at the figures for money given out to the respective UK countries per person. NI are given the most, Scotland second, Wales third.....and England last.
Here is The Scottish Claim Of Right.

 

[Dutch]

A currency union will only benefit Scotland. It would essentially mean the UK underwriting the Scottish economy. For this reason alone it won't happen. The tories wouldn't be able to push it through parliament nor would they or the general public have any desire to do so.

However that does not mean that Scotland can't use Sterling. Any country in the world can adopt Sterling as there currency but (as has been previously stated) Scotland would have no fiscal control without a CU.

For Scotland to get into Europe, as a prerequisite, they would need there own currency.