Quote:
Originally Posted by nomadking
The point being there is NO FORMAL currency union with Jersey, just an informal one. Jersey isn't likely to go on a massive spending spree financed by borrowing, as Greece and Spain did. Even then, a population of less than 100,000 is not going to affect the UK by very much.
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I'm afraid that was not the issue at hand.
The issue at hand was that a poster suggested that one could not have independence and retain sterling. I merely pointed out that was not the case and that Jersey was a working example as it has a currency union with the United Kingdom. The nature of that currency union is irrelevant, the fact is it exists.
Nobody has suggested that Jersey is going to go on a massive spending spree or if it did that it would adversely affect the fortunes of the UK, that is a hypothetical construct which you insist on bringing into the argument.