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UK to Scotland: Walk away, lose the pound


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#1    questionmark

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Posted 13 February 2014 - 07:13 PM

Washington Post said:


LONDON – It seems clear now that a divorce would be messy.

The British government warned Scotland on Thursday that if they voted to leave the United Kingdom, they would not be able to keep the pound.

“If Scotland walks away from the U.K., it walks away from the U.K. pound,” said U.K. Chancellor George Osborne in a speech in Edinburgh on Thursday, upping the ante in the battle over Scottish independence.

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#2    TheSpoon

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Posted 13 February 2014 - 07:48 PM

Hell yes, don't buy into the fear mongering. It won't be an easy road but it would set the bar for people aspiring for a road not already paved telling you where to go. "FFFREEEEEDDDOOOOOMMMMMM!!!"


#3    Sean93

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Posted 13 February 2014 - 08:47 PM

As far as Scottish independence goes, if it's successful I can only imagine that there will be a new drive for Irish independence here in the 6 Counties of the North.

I look forward to finding out what will happen. Scotland have their own currency anyway, it just happens to be mildly circulated and treated with suspicion outside of Scotland itself.

I wouldn't mind seeing Scotland independent, it would be a funny and strange day. Braveheart marathons all round.

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#4    stevewinn

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Posted 14 February 2014 - 12:17 PM

well for the record i do not want Scotland to leave the United Kingdom. but i fully understand that if on September 18th the Scottish vote YES to leave then that is their democratic right. make no mistake about it, it will be a sad day in our History. So as the rest of the UK contemplates the possibility of Scotland leaving we have to continue with the business of what's best for our future and National interests.

When it comes to currency the pound sterling politicians have decided that its not in our National interest to let the Scottish continue to use the pound sterling, The Bank of England as no interest in acting as the backer, guarantor to what will be a foreign country. this is the cold hard truth, this independence vote is not about taking on the Tories, its about Scotland becoming an independent foreign country.

The SNP have led their supporters up the garden path. its evident by their lack of a plan B. Salmond as come out stating its the three main British parties ganging up on Scotland. Its not, this is simply politics on the world stage.

He continues to say that Scotland can continue to use the pound because there is still negotiations to be done, who is he fooling. what planet is he on. there is nothing to negotiate when it comes to the Bank of England. Hes living in some sort of fantasy world, the white paper proves it. He even said Scotland would not repay its debt if not allowed continued use of the pound sterling. Salmond is amateur at best, because which country, central Bank is going to act as guarantor of a Independent country who refuse to service their debts?

Salmond also made it clear the pound sterling is only a half way house, with a Independent Scotland eventually applying to join the EU and Euro currency. lets remind ourselves his and the SNP's  first option was for iScotland to join the EU and Euro currency when it was clear an iScotland were told by the EU themselves they'd have to apply to join the EU and that would take five years minimum and that iScotland does not even meet the criteria for joining the Euro currency. the panic set in and all of a sudden the SNP nationalists decided, oh dear, oh dear dear dear, what shall we do now, i know, i know, we'll continue to use the pound sterling, but without even asking. now its clear an iScotland will not be allowed to use the pound sterling currency - Bank Of England.

Salmond has Cherry picked, plotted and planned for a Independent Scotland to be run like it is still part of the UK. the Cold hard light of reality is shining on the SNP and showing going Independent means that going independent. standing alone against the world in all areas, economic, trade, domestic affair etc etc...

If the Scottish vote Yes to leave, i wish them well. but im afraid it will end in tears. and would likely be back within 10 years. because the UK would block any attempt at EU membership. we'd block any attempt for membership of NATO. and so on and so on, its not bully boy tactics, its politics. welcome to the world of geopolitika. and get use to it. because a country with 5.1 million will not stand as equals on the world stage. they'll be stood upon.

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#5    skookum

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Posted 14 February 2014 - 02:39 PM

I just hope the Scottish people get what they want.  Ideally think we are better as the UK but I respect their decision.

This has been on the cards all along and should have been sorted from the beginning.  Salmond just hasn't done his homework, he assumed an independent Scotland would be automatic EU members but it seems that many members believe they would have to apply like other new nations.  This still hasn't been sorted and now he has losing the pound on top of that.

Makes you wonder what else he has purely assumed.

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#6    questionmark

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Posted 14 February 2014 - 04:24 PM

View Postskookum, on 14 February 2014 - 02:39 PM, said:

I just hope the Scottish people get what they want.  Ideally think we are better as the UK but I respect their decision.

This has been on the cards all along and should have been sorted from the beginning.  Salmond just hasn't done his homework, he assumed an independent Scotland would be automatic EU members but it seems that many members believe they would have to apply like other new nations.  This still hasn't been sorted and now he has losing the pound on top of that.

Makes you wonder what else he has purely assumed.

The only real impediment for Scotland to get back into the EU within 2 years is Britain... but as Britain is about to leave...no biggie.

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#7    shaddow134

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Posted 14 February 2014 - 04:49 PM

If the Scots want Independance then let them have it but as i have said once before,as long as the English tax payer doesn't foot the bill.

Could not Scotland continue to use the Pound anyway,as it says in the above article Panama uses the US dollar ?

Edited by shaddow134, 14 February 2014 - 04:56 PM.

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#8    questionmark

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Posted 14 February 2014 - 05:00 PM

View Postshaddow134, on 14 February 2014 - 04:49 PM, said:

If the Scots want Independance then let them have it but as i have said once before,as long as the English tax payer doesn't foot the bill.

Could not Scotland continue to use the Pound anyway,as it says in the above article Panama uses the US dollar ?

Yes, every country can use whatever they think is viable as currency, cow turds if need be. (much of the Balkans used the German Mark when Yugoslavia went down the tubies)  The disadvantage about using the pound long term for an independent country is that it would have no influence over the monetary policy.

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#9    Border Collie

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Posted 14 February 2014 - 05:42 PM

View Postquestionmark, on 14 February 2014 - 04:24 PM, said:

The only real impediment for Scotland to get back into the EU within 2 years is Britain... but as Britain is about to leave...no biggie.

That very much remains to be seen. Particularly in the time scale you mention. Highly unlikely to say the least.


#10    questionmark

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Posted 14 February 2014 - 05:50 PM

View PostBorder Collie, on 14 February 2014 - 05:42 PM, said:

That very much remains to be seen. Particularly in the time scale you mention. Highly unlikely to say the least.

Even if the UKIP should make significant gains in elections it won't happen, I know that in Britain nobody will saw off the branch they are sitting on.

What bothers most really is not the EU, but that others have a say in it too and, from time to time, can down vote Britain's opinion. But that comes with it.

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#11    keithisco

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Posted 14 February 2014 - 08:04 PM

View Postquestionmark, on 14 February 2014 - 05:50 PM, said:

Even if the UKIP should make significant gains in elections it won't happen, I know that in Britain nobody will saw off the branch they are sitting on.

What bothers most really is not the EU, but that others have a say in it too and, from time to time, can down vote Britain's opinion. But that comes with it.
When it comes to accesion to the EU then the vote must be unanimous. As already indicated , Scotland would have to join the queue


#12    Finity

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Posted 14 February 2014 - 08:09 PM

Scotland is going to screw themselves with this hole independence thing, almost guaranteed. Taking the pound off them is probably the safest path for the rest of the UK because letting them keep it is very high risk, this is also the reason the EU may not accept them. Once Scotland goes independent their economy risks falling appart, plus most of their state funded benefits will have to go and taxes will have to rocket to foot the bills that the UK used to pay for.

I think they have the idea that it's going to turn in to a rich tax heaven like some other small nations, but it just isn't. It's in the wrong part of the world and pretty much all their trade will have to go through England.

Edited by Finity, 14 February 2014 - 08:10 PM.


#13    questionmark

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Posted 14 February 2014 - 08:10 PM

View Postkeithisco, on 14 February 2014 - 08:04 PM, said:

When it comes to accesion to the EU then the vote must be unanimous. As already indicated , Scotland would have to join the queue

Tell that to Turkey, they have been in the queue for 30 years now. It has nothing to do with when you apply it but how compatible you are to the rest of the union, and according to that you get in faster or slower. Scotland, having already implemented most of the EU law (if not all) could join right away.

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#14    Leonardo

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Posted 14 February 2014 - 08:21 PM

View Postquestionmark, on 14 February 2014 - 08:10 PM, said:

Tell that to Turkey, they have been in the queue for 30 years now. It has nothing to do with when you apply it but how compatible you are to the rest of the union, and according to that you get in faster or slower. Scotland, having already implemented most of the EU law (if not all) could join right away.

It would make sense for Scotland to apply to join the EU immediately, and once in they would be able to apply for a lot of grants to get the nation off the ground. I can see the EU wanting Scotland to then tie itself to the Euro.

Which would make Osborne's "lose-the-union-lose-the-pound" threat all the more hollow.

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#15    Admiral Rhubarb

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Posted 14 February 2014 - 08:56 PM

Does anyone, however much emotional appeal the idea of Scotland the Brave being Free and everyone painting themselves blue and dressing in Woad to celebrate might have, really think they could go it alone on their own two feet without relying on support from anywhere, England or the EU? If they think they can, then by all means do so, if only because it would mean they wouldn't moan so much. Anyway, they already have the Scottish Pound, don't they? Couldn't they just keep that?

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