Scotland after the vote
Discussion
Walford said:
andymadmak said:
And in any event, printing the paper aint the problem. It's guaranteeing it that causes the issue,
The government would do thatCurrency requires confidence, it requires the acceptance by others of the credibility of the institution/currency that is backing it. Whilst Scotland could just create one where is that confidence going to come from? Who would accept it? With no track record why would I believe that it's worth anything, that everyone else would think it was worth anything?
HenryJM said:
The Scottish one?
Currency requires confidence, it requires the acceptance by others of the credibility of the institution/currency that is backing it. Whilst Scotland could just create one where is that confidence going to come from? Who would accept it? With no track record why would I believe that it's worth anything, that everyone else would think it was worth anything?
Added to this of course is Alex and his meerry bunch of chancers are very quick to threaten to renege on their debt share when they don't get their own way. Sounds like just the sort of people I would want guaranteeing any money I might invest. The truth of course is that if they vote yes, first the banks and the Scottish depositors will shift their money out of Scotland pdq ( amongst them will of course be many Yes voters)Currency requires confidence, it requires the acceptance by others of the credibility of the institution/currency that is backing it. Whilst Scotland could just create one where is that confidence going to come from? Who would accept it? With no track record why would I believe that it's worth anything, that everyone else would think it was worth anything?
Coming back to Swinneys promise to borrow Billions...
http://www.bbc.co.uk/news/uk-scotland-scotland-pol...
...I'm quite surprised that the media have not jumped on the contradiction here with a currency union.
Such borrowing plans would blow apart any chance of a CU and keeping the pound. Why on earth would the rUK allow Scotland to enter into a currency union with a state that refused to abide by borrowing limits set by the owner of the currency?
The is perhaps the best illustration of why the CU would not be granted. As George G said it would be exactly like giving a credit card to your ex-wife and letting her borrow as much as she wanted - including the effect that might have on the cost of your own borrowing, and the impact it might have the value of your currency.
Insane.
So, in short, Swinney is outlining the very reasons a CU is never going to happen under such circumstances.
http://www.bbc.co.uk/news/uk-scotland-scotland-pol...
...I'm quite surprised that the media have not jumped on the contradiction here with a currency union.
Such borrowing plans would blow apart any chance of a CU and keeping the pound. Why on earth would the rUK allow Scotland to enter into a currency union with a state that refused to abide by borrowing limits set by the owner of the currency?
The is perhaps the best illustration of why the CU would not be granted. As George G said it would be exactly like giving a credit card to your ex-wife and letting her borrow as much as she wanted - including the effect that might have on the cost of your own borrowing, and the impact it might have the value of your currency.
Insane.
So, in short, Swinney is outlining the very reasons a CU is never going to happen under such circumstances.
///ajd said:
Insane.
So, in short, Swinney is outlining the very reasons a CU is never going to happen under such circumstances.
To sensible and rUK folk, yes.So, in short, Swinney is outlining the very reasons a CU is never going to happen under such circumstances.
To the Nats, he is further raising the stakes and expectations on the independence wish list. Heightening their desire to leave the UK, even if the goals are hugely unrealistic.
Scotland will never cease to amaze me. It just goes to show that all Celtic and Rangers fans aren't bigots after-all: Link - https://www.facebook.com/CelticRangersFansUnitedFo... - well played guys, keep up the good work. Give the bigots their marching orders!!!!!
Oops - I spoke too soon. My brother who lives in Sweden thought that Scottish Independence was a done deal, until that is, he got sent this you tube clip from a very confused Swedish friend of his...... he had to try explain the certain peculiarities of admittedly just some (and definitely not all) Rangers fans.
https://www.youtube.com/watch?v=pmGjiokfQ2A
https://www.youtube.com/watch?v=pmGjiokfQ2A
I didn't used to care about Scottish independence but the more I read the more I realise that the pro-independence lot are totally and utterly economically illiterate. Additionally they have had years to figure out how currencies, debt, central banks, treasuries, borders and the EU works but they don't appear to have bothered, which means they are either very thick or very lazy or both. Now it would be quite amusing to step back and watch their hubris implode in another Iceland/Ireland/Greece if it wern't for the fact that a few million innocent non-idiots would get hurt in the process and England would end up picking up the pieces.
fblm said:
it would be quite amusing to step back and watch their hubris implode in another Iceland/Ireland/Greece if it wern't for the fact that a few million innocent non-idiots would get hurt in the process and England would end up picking up the pieces.
Portugal, Cyprus, Scotland, North Korea and Haitipcvdriver said:
Oops - I spoke too soon. My brother who lives in Sweden thought that Scottish Independence was a done deal, until that is, he got sent this you tube clip from a very confused Swedish friend of his...... he had to try explain the certain peculiarities of admittedly just some (and definitely not all) Rangers fans.
https://www.youtube.com/watch?v=pmGjiokfQ2A
Love the comments underneath that video.https://www.youtube.com/watch?v=pmGjiokfQ2A
God help us all.
Axionknight said:
pcvdriver said:
Oops - I spoke too soon. My brother who lives in Sweden thought that Scottish Independence was a done deal, until that is, he got sent this you tube clip from a very confused Swedish friend of his...... he had to try explain the certain peculiarities of admittedly just some (and definitely not all) Rangers fans.
https://www.youtube.com/watch?v=pmGjiokfQ2A
Love the comments underneath that video.https://www.youtube.com/watch?v=pmGjiokfQ2A
God help us all.
ked up to want to move to England, "cos it's got too many English people - doh", so they'll happily move to Wales instead..... 
Walford said:
fblm said:
it would be quite amusing to step back and watch their hubris implode in another Iceland/Ireland/Greece if it wern't for the fact that a few million innocent non-idiots would get hurt in the process and England would end up picking up the pieces.
Portugal, Cyprus, Scotland, North Korea and HaitiJohnnytheboy said:
Walford said:
fblm said:
it would be quite amusing to step back and watch their hubris implode in another Iceland/Ireland/Greece if it wern't for the fact that a few million innocent non-idiots would get hurt in the process and England would end up picking up the pieces.
Portugal, Cyprus, Scotland, North Korea and HaitiJohnnytheboy said:
Didn't the Nats used to use Iceland's economy as a role model pre-crash?
Yup. "Arc of Prosperity".Also Ireland. "Celtic Tigers".
And put their weight fully behind RBS's bid for ABN.
It's not that they haven't got the first clue, it is that they couldn't find a "clue" if it jumped out in front of them with a big sign saying "This is the clue that you need so desperately"
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