Scottish currency

[nell]

Correct. It will get eaten alive. New currencies always are. It takes huge levels of commitment, resilience and decades of persistence to establish a new currency and to do it you must accept a prolonged period of devaluation. More seriously, Salmond has announced that Scotland will renege on its share of the national debt if Westminster does what any sane Government would do and refuses to underwrite a foreign country by allowing it to use the BoE as lender of last resort. If Scotland does refuse to pay its debts it will become instantly internationally blacklisted. Scottish risk will be toxic. Bond markets will not lend it a shilling. Its interest rates would sky-rocket, all its debt, its mortgages, its pension funds would be unsaleable, no business trading in the new currency would be able to raise credit and holdings in Scottish companies would become junk.
At least that's what usually happens. Perhaps Mr Salmond has a plan to reinvent that wheel as well.

Your not Alister Darling by any chance??? has all this happened anywhere in the world or are they just predictions???

 

[bogtrotter]

But there won't be any just popping across the Border. Scotland will be an independent country and outside the EU. The border will not be like that of going to an EU country - ie you just drive across. It will be an EU border with passport control.

And Scots will be at same status as Kiwis, Americans, Australians etc and will require visas etc to cost the remains of the UK. That's what every other non EU has to do, so why will it be any different. And as for working down in England you will need a work Visa.

Have you looked at the price of visitors visas. Friends came across from Zimbabwe last year to the UK for Christmas. They are of Scots ancestry, but both third Generation Zimbabwean and have Zim passports. It cost over £1,000 for the four of them to come to the UK for Christmas.

A cousin is married to an American. His mother in law can only one or two visitor visas a year to visit her grandchildren.

And for all the English thinking of popping up for a stalk. Well it won't be covered by EU firearms permit, so you will have all the hastle of international firearms imports etc.

Currency is least of the worries.

Why would there be passport control, no passport control going to the channel Islands , no passport control going to the Isle of Man , not only are these islands not part of the Union they are not even in the EU

So why would there be passport control travelling between Scotland and England.

 

[bogtrotter]

And for all the English thinking of popping up for a stalk. Well it won't be covered by EU firearms permit, so you will have all the hastle of international firearms imports etc. /QUOTE]

Afraid you are wrong there just a visitors firearms permit required, for which you need a sponsor EU pass would still be OK for someone traveling from an EU country even if their destination is not in the EU worst case scenario same as those already coming from outside the EU,firearms permit from their country of origin and or letter from the chief of police for their area.

I know I do visitors permits on a regular basis, not all for EU firearms pass holders.

 

[rick6point5]

Your not Alister Darling by any chance??? has all this happened anywhere in the world or are they just predictions???

There is a lot of history available regarding the Hyperinflation of currencies due to countries gaining their Independence, most of the eastern block suffered after the breakup of Russia, The former Yugoslavia had issues when it split, among many others the most recent is Zimbabwe, it took 24 hrs to mess up the currency there.
It is not just the act of gaining independence that will do it, the factors associated with lending, debts being recalled, banks refusing businesses, cost of imports, commodities prices etc etc...

It is I am sure you are aware not the intention of those in power to have this happen.. it is of no benefit to anyone, unless you trade currency, or commodities, or have vast wealth and will use it as a shopping spree, I wonder how much you could get Edinburgh castle for? or a nice golf course by the sea? As far as English needing a passport is concerned i think that's a bit far fetched, but the Russian & Chinese billionaires may bring one with them when they come shopping..

 

[User00035]

Your not Alister Darling by any chance??? has all this happened anywhere in the world or are they just predictions???

Why do you think nations sell their souls to avoid defaulting on their debts? Why do you think Dennis Healey went begging to the IMF in 1976? Why has the EU turned Greece into an economic failed state? To prevent Greece falling out of the Eurozone, defaulting on its debt and pulling the Euro into a black hole.
Every country on Earth which has ever come to the end of the economic road and had to declare itself bankrupt - which is what you are if you can't or won't pay your debts - has been fed to the lions. That fact is why the IMF exists.

 

[bruce w]

Why would there be passport control, no passport control going to the channel Islands , no passport control going to the Isle of Man , not only are these islands not part of the Union they are not even in the EU

So why would there be passport control travelling between Scotland and England.

to travel by ferry or plane to aberdeen from shetland i have to produce a current passport ,or photo id from a list of documents the shipping and airline companys will accept ,

 

[bewsher500]

to travel by ferry or plane to aberdeen from shetland i have to produce a current passport ,or photo id from a list of documents the shipping and airline companys will accept ,

Airline rules for all domestic flights
try pulling an FAC out, always good for a laugh.....


on the currency topic, we will be moving to the Irish back up currency of broken biscuits if it all goes tits up

 

[Heym SR20]

Why would there be passport control, no passport control going to the channel Islands , no passport control going to the Isle of Man , not only are these islands not part of the Union they are not even in the EU

So why would there be passport control travelling between Scotland and England.

Yes that's right, it's because it's been negotiated.

It will be up to Salmond and his lot to negotiate for free access of Scots to the UK, likewise to negotiate a currency union etc etc. the Kiwis and Australians and all of the Empire used to have shared currency and right of access to the UK, they don't any more. The Eire negotiations we in the the 1920's - very different climate now.

If we vote indepenence we have to start on the the basis of nothing and then everything has to be negotiated. So we will not be members of the EU, we will not have a currency union with the UK, we wil not have the right of free access to the rest of the UK, nor for that matter Europe. We will have to negotiate them all in. Anything else is just wishful thinking.

 

[User00035]

Yes that's right, it's because it's been negotiated.

It will be up to Salmond and his lot to negotiate for free access of Scots to the UK, likewise to negotiate a currency union etc etc. the Kiwis and Australians and all of the Empire used to have shared currency and right of access to the UK, they don't any more. The Eire negotiations we in the the 1920's - very different climate now.

If we vote indepenence we have to start on the the basis of nothing and then everything has to be negotiated. So we will not be members of the EU, we will not have a currency union with the UK, we wil not have the right of free access to the rest of the UK, nor for that matter Europe. We will have to negotiate them all in. Anything else is just wishful thinking.

That is correct. I shall be fascinated to observe Mr Salmond's negotiating skills. He doesn't strike me as the sort of person who would excel as a diplomat.

 

[Heym SR20]

That is correct. I shall be fascinated to observe Mr Salmond's negotiating skills. He doesn't strike me as the sort of person who would excel as a diplomat.

In fact the Chanel Islands and the Isle of Man are Crown Dependancies and hence have freedom to move in and out of the rest of the UK. Ie the have their own governments, but internationally they are the responsibility of the UK. Westminster still has a right to legislate for these territories as a last resort.

Scotland will be an Independent Country, and have no dependency on the rest of the UK. Any planning by future independent Scottish Governments must be on that basis and no other.

In the negotiations Westminster will be negotiating on behalf of the rest of the UK, and negotiating the best for the rest of the UK. Like any divorce they will pass across the minimum required. In the same way Holyrood will be trying to keep as much for itself.

We are already seeing a flood of assets going out of the country and a complete lack of any decisions as to future investments. All businesses have spent a lot of time making contingency plans and they will take business decisions that are right for the business.

Where re will the money come from?

Most of the Highlands and Islands and Scottish Enterprise and the Forestry Commisions budgets come from the EU.

Scotland will not be part of the EU, until it negotiates it's way back in - which will take a minimum of five years and require the approval of all other EU nations. And by definition the EU cannot provide grants to non EU members, unless of part of an International Aid budget.

So where will the grants and investment from Scottish Government and it's agencies come from?

And as for the private sector - well it will have to be home grown. But capital is transferable and doesn't like political uncertainty so will go elsewhere.

But the Chinese do like investing and already Scottish Government is making big inroads here. But do you want to be governed by Beijing or Westminster?

 

[49ERIC]

OH !! Well never mind, we will all , have to go SHOOT in Europe , Reckon the scots could well be digging a lot deeper into there, Pockets
to find any '' GBP pounds '' , if all there sixteen year olds , vote '' yes ''

 

[rick6point5]

If all goes well with foreign investment you could have new road signs.....爱丁堡 斯特灵 珀斯

 

[Mickeydredd]

Can't wait for all the leases that are currently held by non-residents" to be freed up........enjoy Europe.

OH !! Well never mind, we will all , have to go SHOOT in Europe , Reckon the scots could well be digging a lot deeper into there, Pockets
to find any '' GBP pounds '' , if all there sixteen year olds , vote '' yes ''

 

[wivenhoe65]

What ,after all the sporting estates having been 'broken up' Rhodesia style and the gov't rangers have finished killing all the vermin (aka deer ) , i wish you luck with that ,you'll need it

 

[deeangeo]

Can't wait for all the leases that are currently held by non-residents" to be freed up........enjoy Europe.

Lease agreements are exactly that and have a period of time to run. Whatever the vote is, should it be 'Yes', it will take 3-10 years before all the details are worked out & independence actually achieved. There's no fixed timescale for independence to take place and it definitely wont be the day the votes are counted and announced. ATB

 

[NOTSHARP]

In fact the Chanel Islands and the Isle of Man are Crown Dependancies and hence have freedom to move in and out of the rest of the UK. Ie the have their own governments, but internationally they are the responsibility of the UK. Westminster still has a right to legislate for these territories as a last resort.

Scotland will be an Independent Country, and have no dependency on the rest of the UK. Any planning by future independent Scottish Governments must be on that basis and no other.

In the negotiations Westminster will be negotiating on behalf of the rest of the UK, and negotiating the best for the rest of the UK. Like any divorce they will pass across the minimum required. In the same way Holyrood will be trying to keep as much for itself.

We are already seeing a flood of assets going out of the country and a complete lack of any decisions as to future investments. All businesses have spent a lot of time making contingency plans and they will take business decisions that are right for the business.

Where re will the money come from?

Most of the Highlands and Islands and Scottish Enterprise and the Forestry Commisions budgets come from the EU.

Scotland will not be part of the EU, until it negotiates it's way back in - which will take a minimum of five years and require the approval of all other EU nations. And by definition the EU cannot provide grants to non EU members, unless of part of an International Aid budget.

So where will the grants and investment from Scottish Government and it's agencies come from?

And as for the private sector - well it will have to be home grown. But capital is transferable and doesn't like political uncertainty so will go elsewhere.

But the Chinese do like investing and already Scottish Government is making big inroads here. But do you want to be governed by Beijing or Westminster?

A truly frightening prospect.




Steve.

 

[waterford103]

they already have with me and I pay tax on money I set aside for now. If a fat obnoxious egomaniac takes over Scotland my tax will undoubtaby go up .Offshor workers who earn magical wages will move south and travel to their place of work in the Euro oilfields in the Euro (previously North ) sea to avoid paying inflated taxes to the fat controller .

 

[Mick Miller]

But the Chinese do like investing and already Scottish Government is making big inroads here. But do you want to be governed by Beijing or Westminster?

Anyone but England?

 

[bewsher500]

if all there sixteen year olds , vote '' yes ''

actually from the polls it may be a mistake on his part to include 16yr olds as they seem to be looking to stick with the UK in the majority

 

[6pointer]

bewsher500 is correct I would suggest that the biggest majority of under age voters as you call them are in fact looking deep into the subject and voting as they see fit. I teach a lot of 17 year olds and they are very well informed on the subject. It has been high on there list of study's for a year or two at school and at collage.