Not letting the Scots have the pound

[Hamilton]

Its the ruling UK government bullying the Scottish Nationalists.

Even better. That said, it's a referendum which all residents of Scotland are taking part in.

 

[symyjym]

There was a reason why the Romans built Hadrian's Wall.

 

[glasfryn]

Why don't we just say that Gordon sold their half.

 

[Giraffe]

There was a reason why the Romans built Hadrian's Wall.

And also a reason that the eventually England Scotland boundary is about 50 miles North of it. The English are winners and the Scots are losers.

 

[Lord Bracknell]

What are the legalities of Scotland refusing to pay their share of the U.K's debt?

The legalities are the same as any debt. The person who borrowed the money (ie the government in Westminster) has to pay it back.

If we could all pass our debts on to our next door neighbours, I imagine that there'd be big, big trouble.

 

[Mr Bronson]

The primary disadvantage to Salmond & Co of having a new currency is the ability to borrow money. As part of the UK pound he would get to borrow at 2.7% for 10 years. As a new currency it could be 5% plus. If Salmond decided he doesn't want to pay to any of the UK debt the ratings agencies will rate Scotland as junk and they can look forward to paying 10% plus. Alex can look forward to begging Wonga to lend him £200 to pay the Scottish Parliaments milk bill.

 

[Herr Tubthumper]

As an aside I'm liking this Mark Carney guy. Talk the truth and does not suck up to the government.

 

[Hamilton]

Oh the irony...

http://www.scotsman.com/sport/footb...d-celtic-will-play-in-england-green-1-2819567

 

[atfc village]

Oh the irony...

http://www.scotsman.com/sport/footb...d-celtic-will-play-in-england-green-1-2819567

Celtic can p1ss off and play in Ireland.

 

[DavidinSouthampton]

I've got a few questions over this issue.

Firstly, how is the U.K bullying Scotland by saying there will be no monetary union if Scotland votes for independence. Surely it's well within the U.K's right to decide that?

Secondly, it's been stated that if the U.K don't let Scotland keep the pound then the newly independent Scotland won't accept any of the U.K's debt, debt accrued while Scotland was a full and active part of the U.K. Isn't that a) more of a bullying tactic than the U.K electing to not join monetary union with Scotland and b) isn't that a bit like the political equivalent of going into admin? They rack up a debt with the uk then split and start afresh with no debt?

Third) What are the legalities of Scotland refusing to pay their share of the U.K's debt? If it's legally acceptable that they don't have to, what would happen if the week before the Scottish vote for independence the English, Welsh and Northern Irish each had their own vote on independence and left Scotland holding the U.K flag and the entirety of its debt?

I agree with all your questions - especially the first.

From the Scottish point of view, I would have thought independence should mean being financially independent a s well, which means not clinging on to someone else's currency.

From the point of view of the rest of those who stay in the pound, surely the performance of the Scottish Government, the spending decisions they make and so on would affect the status and performance of the currency, so why should we allow that to happen.

You are either independent, or you are not. I can't see any argument for the quasi-independence that they seem to want.

 

[Brovion]

I think many of the Protestants many of whom trace their roots back to Scottish and English settlers might object.

Well they might, but has anyone thought of asking the English if we want to still be in a Union with them? I'm guessing that you would say yes (fair enough), but I'm firmly with BigGully on this, the last thing I want is for us (England) to be stuck in some dreadful rump UK with Wales and Northern Ireland.

 

[DavidinSouthampton]

Its the ruling UK government bullying the Scottish Nationalists.

No it isn't. It is the ruling UK government - and the other major party(ies) - all facing up to things realistically.

 

[Don Quixote]

So if they go independant they can't have our pound. Makes sense. But where does this leave Scotland.

Options are for them to fight this (with what?), take the Euro, or come up with something new.

Could be a right old mess for them and potentially us (by that I mean the remaining England, Wales and Northern Ireland)

Our pound? Does the pound not belong to them too?

 

[Hamilton]

Our pound? Does the pound not belong to them too?

It belongs to the UK. The Scottish Nationalist want Scots to vote to leave the UK. Leave the Uk and you're something else, so then it's not their pound to have. That's my understanding.

 

[Tubby Mondays]

No it isn't. It is the ruling UK government - and the other major party(ies) - all facing up to things realistically.

No it isnt. It is the ruling UK government - and the other major part(ies) - facing up to THEIR realism, which is obviously different from the Scottish Nationalists realism.

 

[symyjym]

So if they go independant they can't have our pound. Makes sense. But where does this leave Scotland.

Options are for them to fight this (with what?), take the Euro, or come up with something new.

Could be a right old mess for them and potentially us (by that I mean the remaining England, Wales and Northern Ireland)

Yep, the Euro is the natural way for them to go.

 

[Brovion]

Its the ruling UK government bullying the Scottish Nationalists.

Not really 'bullying' though is it?, just pointing out some facts. It's a bit like NSC where if someone posts something stupid and a lot of other users point out that it IS stupid the original poster will claim that they're being 'bullied'.

 

[Tom Bombadil]

No it isnt. It is the ruling UK government - and the other major part(ies) - facing up to THEIR realism, which is obviously different from the Scottish Nationalists realism.

The trouble with Salmond and the nationalists is they take a very rose tinted view of everything and then whine like toddlers when anyone says differently. They have a track record of claiming something is going to happen and then when the people who will actually make the decision (eu entry, nato membership the pound) contradict them they either accuse them of lying, being wrong or scaremongering.

 

[Marxo]

I wonder if independence will have any bearing on scots getting high profile jobs in England, e.g. Adam Crozier who has been top exec at the English FA, Royal Mail and now ITV.

 

[Herr Tubthumper]

It belongs to the UK. The Scottish Nationalist want Scots to vote to leave the UK. Leave the Uk and you're something else, so then it's not their pound to have. That's my understanding.

But as they're currently part of the UK surely they currently own a bit of the pound? Can't they take their bit with them? The could maybe call it a Bitcoin? Might catch on?