My second question is we are told we will be financially ruined yet Moody's and standard and poor's have both come out and said Scotland's credit scoring regardless would likely be AAA.
Lastly....a lot of the English are very annoyed they do not get a vote saying that it affects them so they should have a say.....are you going to be as equally passionate about the EU referendum and let the rest of Europe also decide if you get to leave?
As an Englishman of very distant Irish extraction I am concerned not with what independance will do for Scotland - I'm sick of hearing about it - but what it will do for the remainder of the UK. Divorce is usually an expensive business for both parties. If Scotland decides to use the Pound Sterling the Bank of England will effectively control the Scottish economy, as Scotland will have no say in the Bank's fiscal policy, if it doesn't it will either have to invent it's own currency, and will need to build up reserves in it's own equivalent of the Bank of England, which will cost the people of Scotland, or they will have to use the Euro, which again will have no, or very little control over fiscal policies - look at Greece, Spain, etc.
What Scottish independance will do for the rest of the UK is more my concern - we will effectively become fourth in the world, behind Italy, so we'll have less pull in the world than we have at the moment, which in some ways is not much already, if Scotland defaults on their part of the National debt it will affect the money in my pocket, making food that we will be importing from Scotland possibly dearer, and many other changes that I feel I could do without.
The main reason for not wanting to share the pound is that shared currencies don't work. Look at the euro - we kept out of it for good reason. Then when you divorce you come to an agreement about how to share the debt. These are separate questions.
You're right about the rest, though the credit rating agencies might take a different view depending on how it works out. Nobody can tell how it will.
Unusually I find myself in complete agreement with Jack H ......well I never!
Anyway...
1. Have the pound for all I care......but why do you want it......the pound is solely supported by the Bank of England, or didn't you know that?.......you will no say it how it is managed......you will be totally dependent on decisions made by Westminster and the Bank of England......and you take a portion of the national debt, because it is your debt too......by not taking it that makes you a thief.....!
2. Your credit might be AAA now, but I give the Soviet Socialist a Republic of Scotland only little time before your economy is ruined......bear that in mind.....
3. Not sure who you think in England wants to keep Scotland, but if you wanted to be sure of a yes vote let the English vote......you'd be sent on your merry way in no time......!
Sharing the debt is about clearing up business from the past whereas sharing the pound is about how Scotland plans its future.
To use marriage and divorce as a metaphor, if a wife goes she's still liable for her share of the money the couple borrowed to go on honeymoon but once that's paid off she ISN'T liable to be a guarantor for the man's proposed car loan.
The debt belongs to the UK, and Scotland is part of the UK. If you get divorced, the person who first leaves the marriage does not suddenly get to walk away from all the debt in the marriage? It belongs to both of them, even if it is only in one person's name. Besides, this debt is not only in one person's name, it is in the name of the UK, of which Scotland belongs. Everybody is on the debt, not just one. If a woman changes her name back to her maiden name when she divorces, it does not mean that she was not part of that family to begin with, and is not responsible for debt.
As for using the British Pound, well, why would you want to use a currency in which you have no control over. That is why the UK still uses it, as they would have less control over their monetary policy if they used the Euro exclusively.
so why does the Royal Bank of Scotland and the Linen bank print Scottish pound Notes
the UK will not allow you to keep the Pound Stirling
Not too many English Brits. actually give a toss about how you vote, for goodness sake, just vote, ask Alex for the answers, he won't actually give you any, but ask anyway, then, vote, and hopefully LEAVE the UK...
q1) lol scotland will want to do something called issue bonds to raise cash so they can buy some communism, but who will want to buy those bonds if you have history of not paying up and dodging? .i believe the socialistic republic of scotland are going the route of lending not taxation towards general prosperity huh.. good luck with that.
q2) i don't think that's true, if you welsh less so.
q3) true, you have a point however, not even a small minority believe we should have a vote on scotland's self determination.
as for the pound sterling, money is owned by the issuer not the user, scotland are free to use it by all means, what they aren't free to do is have their society underwritten by it.. or no ticky no union.
The Unionist forces will rig it.
