Currency Union?

[MuckleJoannie]

And the yes campaign immediately come back and say the Guardin is wrong.

 

http://www.bbc.co.uk/news/uk-scotland-scotland-politics-26791763

 

That is the problem I find with the independence debate. Everybody produces propaganda to suit their own cause and it is hard to find facts.

[Who Knows]

Currency union is a very topical issue below is the Adam Smith Institute, an independent think tank not aligned to either side of the referendum campaign, considered view on the issue.

 

http://www.adamsmith.org/news/press-release-an-independent-scotland-should-keep-the-pound-without-ruks-permission/

[Rasmie]

Interesting that Jim Sillars is now questioning Salmonds reluctance to answer the questions being asked.

[fionajohn]

we are shafted whichever way we vote ....if we vote yes can we expect the pound in our pocket to stay the same value wise or will Westminster devalue the Scottish pound to their own gain or will we in Shetland go for the kroner ....Westminster will take revenge if we vote either way and treat us like a wayward child for being so bold as to dare to seperate the UK   .... history has a bad habit of repeating itself   

[tonydog]

I can think of 25 million reasons and one  ,why a currency union won't work

25 million English Welsh and northern Irish citizens won't bail out a foreign country banks if the cash machines run dry would the Scots do the same if the situation was reversed 

And the one main reason is Alex salmon he would have to agree with very strict rules agreed  with the rest of the UK and that man would argue a badger was pink even if one was sat in front of him

Any way scotland is already threatening to default on it debts would you lend money to someone who said they may not pay you back its bonkers 

It's not project fear it's project we we will promise you the earth  ,just don't look down

[MuckleJoannie]

There is  precedent for a country to leave the UK and continue to peg its currency with sterling. Ireland did it, even after it became a republic in 1949. This arrangement lasted until Ireland chose to join the European monetary system in 1978.

 

http://www.businessinsider.com/the-currency-model-used-after-irish-independence-could-work-for-scotland-too-2014-8

[Rasmie]

Perhaps it might have been possible if  As had negotiated instead of demanding. I think that the arrogance has got peoples backs up.  Anyhoo, job done, he's blown it!

[Who Knows]

The UK Government clear position was no negotiations on any issues prior to the referendum out-turn in September. Our MP has stated this on many occasions.

 

The UK Government has subsequently chosen to make a single unexpected public announcement that was a unilateral u turn on this position with respect to a monetary union and claim that this will not happen.

 

No negotiation took place before this definitive statement of intent and no democratic debate about this issue at West Minister for the parliament to discuss the issue and implications before the declaration.

 

It takes two sides to negotiate so how can the Yes side have pre-discussions on the issue if the other side did not want to talk?

 

The Governor of the Bank of England has made it clear that it is possible but requires political will from both sides to commit to a monetary union.

[Rasmie]

 

 

The UK Government clear position was no negotiations on any issues prior to the referendum out-turn in September. Our MP has stated this on many occasions

Very clever, once Scotland is independent , it will have very little bargaining power with the UK. Any negotiations could be protracted if at all.

 

Seems the yes people have been had!

[Who Knows]

The negotiations are scheduled to take place in the 18 month period following the outturn of the referendum and the date in March 2016 the new state would be officially exist.

 

The Edinburgh agreement both parties have signed agrees to respect the outcome of the referendum and work co-operatively in the joint interest of all parties whether a yes or no outturn.

 

Why are people of the view Westminster will wish to disrespect the democratic decision of the people of Scotland and seek revenge by destroying this country. UK may be many things but are those who support the no side really saying they will act like an evil spoilt dictator seeking to annihilate us for daring not to do as we are told?

 

I do not believe they are so inclined and will therefore act like the "Mother of all Parliaments / Democracies" following the outcome of the vote prove they do act in the best interests of both parties.

 

Back on the issue of the currency issue the Adam Smith Institutes latest advice is in the link below.

 

http://www.heraldscotland.com/comment/letters/post-yes-an-informal-currency-union-should-be-plan-a-not-b.24996407

[rgibson]

Scotland will hold all the cards come independence. The strength/security of scotlands input is what's holding the pound up.

[MuckleJoannie]

I suspect if Scotland becomes independent a few things that the UK government say at the moment are impossible will suddenly be open to negotiation. It is in their interest to be negative. Scotland is too important to the rest of the UK for a North Korean type border to descend post independence.

[Scorrie]

Once all the pre- vote posturing and bluster has been done away with, political and business reality will dictate what happens with the currency.

 

Personally I think that the Scottish 'poond' (or McSterling) will be linked to UK Sterling. Makes sense.

 

But it makes a mockery of any notion of 'true' independence. If another country holds a controlling influence over your currency, then you cannot be a truly independent state. That's why I've never wanted the UK to become a member of the Euro zone.

[shetlandpeat]

There may be a feel if independance, though no country is truely independant once trade agreements are made. We can see now already issues regarding TTIP, though there is a feel that it will help trade between the EU and the US, some does need to be taken out, Scotland PLC would need to create new agreements I would think and could miss out on some of those agreements or their benefits.

 

I have never doubted that the Pound would go.

[Rasmie]

 

 

The strength/security of scotlands input is what's holding the pound up

That would suggest that rather than "prop up" the pound it would be better to have a separate currency.