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Re: Will Scotland Leave the UK?
Apologies. As I said, I'm not an economist however banks in Wales did at one stage print their own banknotes if I recall correctly.
I don't believe I did "miss" a point. It's a fact that the electorate of the UK were not asked to vote on the saving of the banking system. The UK openly loaned seveal billions to Ireland in recent years to shore up their economy so loans and underwriting where there are national interests / assets are concerned are not entirely unheard of. Clearly you have a far greater grasp of the fiscal side of things than I could wish to have but from a laypersons point of view when it comes to banking and matters of sovereignty things are never as clear cut as you or I would like them to be. To that end, and based on the recklessness of the bankers in recent years, I don't rule anything out when it comes to finances & independence. EDIT: Just researched the Welsh banknote history and I see you are right. They were a very limited promissory note run back in the 60's. Cheers. |
Re: Will Scotland Leave the UK?
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It may take a wee while for folk down in England tae get over the break up,one thing that's for sure,many folk (I may have posted this before) may seek pastures new in the years ahead due tae the weather situation,the North Pole is melting incredibly fast,so people have a choice,stay put or move tae Scotland where they will be welcomed,they might even like it. [img]Download Failed (1)[/img] |
Re: Will Scotland Leave the UK?
Next up; The British Isles and how it will look after the zombie apocalypse.
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Re: Will Scotland Leave the UK?
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---------- Post added at 19:17 ---------- Previous post was at 19:13 ---------- Quote:
http://img.photobucket.com/albums/v3...ps99576f39.jpg ---------- Post added at 19:28 ---------- Previous post was at 19:17 ---------- Quote:
I wonder if they will twist the vote tae suit the money men in London. |
Re: Will Scotland Leave the UK?
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Re: Will Scotland Leave the UK?
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The UK loan to Ireland amounted to £3.2 billion and, while it was offered bilaterally, it was a modest part of a larger international package of finance amounting to more than £50 billion. The UK's bailout of its own banking system amounted, at its peak, to (wait for it ...) £1.1 trillion. £850 billion of that was thrown at RBS, a *Scottish* headquartered bank. The Nats can say what they like about the healthy GDP of an independent Scotland, it simply would not have the cash, in absolute terms, to pay that sort of assistance to its own banking sector. With its own currency, it would have to print a fortune, devalue massively and wreck its international credit rating. Within a Sterling area, it would be down to rUK to ride to the rescue in order to protect Sterling for the sake of England, Wales and NI. The UK's assistance to Ireland was, simply, a mere drop in the ocean and politically, and economically, it was perfectly defensible. The sorts of sums thrown at the Scottish part of the UK economy are, on the other hand, an entirely different matter and, IMO, just barely defensible so long as the money has been deployed within the domestic economy, to save the domestic economy. But to rescue a country that chose to alienate itself from rUK, opting to go its own way, but then needing that degree of rUK taxpayer help in time of need? That way lies serious trouble. |
Re: Will Scotland Leave the UK?
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BTW,as an aside,I'm on a forum called celticminded.com,I'm assuming you've heard of it before,as well as run of the mill Celtic websites such as KDS,The Huddle board,and TwistnTurns,they all voted heavily in favour of YES,as do Jambos Kickback,(where's there's an excellent debate on Independence) and the Hibs message boards,my cousin is a Rangers fan and on Follow Follow,they obviously want the BT,I'm sure you,as a Celtic fan,would back me up on these stats as I'm pretty certain you will have been on one or two forums,right? |
Re: Will Scotland Leave the UK?
So if there is a yes vote in September. How will Scotland be able to keep the sterling pound?
Seen as all Scottish notes are not legal tender anywhere! All Scottish issued notes have to be backed up by English notes held by the issuing bank. Quote:
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Re: Will Scotland Leave the UK?
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But hypothetically speaking, just imagine for a moment it turns out as a 'no'. What will you do then? |
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There is nae need tae type 'tae' that doesnae make ya sound Scottish. Just looks pure daft like, ken?:angel: |
Re: Will Scotland Leave the UK?
It seems I have been wildly optimistic about SepScotland's ability to bail out RBS, even if it had full control of its own currency. The RBS balance sheet turns out to be 10 times larger than Scotland's GDP. No amount of money printing or international loans could cover that.
Not that I make a habit of quoting Vince Cable as gospel, but according to Jeremiah, Scotland would have to accept the need of its own currency, the cost of postage would go up and RBS would decline to take the risk of operating under Scottish control and shift its HQ to London, which would in turn blow a massive hole in a certain J. Swinney's tax assumptions. http://www.telegraph.co.uk/news/ukne...nce-Cable.html |
Re: Will Scotland Leave the UK?
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http://www.telegraph.co.uk/comment/p...the-Union.html Context is all.... ;) |
Re: Will Scotland Leave the UK?
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Re: Will Scotland Leave the UK?
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Och awrite then,whit a will dae is use the word 'no',is everywan happy noo.;) |
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