SNP want to keep the pound AND the BOE as a lender of last resort

BobQ

purch wrote: »

There is no reason why any separate Nation could not choose to have GBP as it"s currency and legal tender.

The BOE would HAVE to remain in control of the currency, and as lender of last resort and as the holder of reserves.

Allowing Banks in other countries to issue GBP notes would continue as it does now.

There is no reason however for any other nation who choose to use our currency to have any say in the operation of the currency by the Bank

Does anyone know the facts of the matter as opposed to what would be sensible to happen or what the SNP would wish to happen?

What examples are there of a nation using another's currency without their agreement?

I agree is unlikely that Scottish residents will vote for independence but if they did surely most of things would be negotiable but potentially problematic if no agreement could be reached.

PaulF81

N1AK wrote: »

If you don't know the facts and background then you would do the others here a favour by not making it up and acting like you do. Salmond, the SNP and the Scottish Parliament have all been asking for discussions regarding how the separation might happen. The government in Westminister has refused and said nothing of the sort can happen until after the referendum.

I want Scotland to want to stay in the UK but that doesn't mean that we should be making up nonsense to undermine the independence movement. Maybe even more Scots would want to be part of the UK if we talked more about the benefits and accomplishments we've gained from Union than incessantly insulting them by saying they can't make it on their own?

I would prefer that Scotland took independence as it would turn them into a third world nation overnight and would also kill the Labour party in the UK overnight too.

I am sick of hearing a minority of scots whine on about how rubbish it is to be in the UK whilst raking in some of the largest per capita central government expenditures by region in the UK.

Yorkie1

*Stop press* SNP wants to have its cake and eat it.

Do the English get a say?

Buzby

That's what hey said when Devolution was touted in the 1970's. Westminster - famed for its dirty deals and echoing the nonsense of scaremongering back in 1707, its time for a change.

Not only that - I fully support independence for E&W too, they deserve it.

The biggest 'Better Together' benefactor as been shown to be less than scrupulous with his tax affairs, so no surprise there then.

We've been 'united' for 305 years or so, some good, some bad. Lets try the alternative. The British Empire of old has been given back to the original countries, why should Scotland be exempt?

The voters will decide - not the scaremongers. If it doesn't happen this time round, a shame - but it was taking part that counted. I'll do what I can to make it happen.

Buzby

Yorkie1 wrote: »

*Stop press* SNP wants to have its cake and eat it.

Do the English get a say?

Sure - they get a vote too! And considering the numbers of English who moved here, they liked what they see. No prescriptions, subsidised care, no road or bridge tolls - for starters, that's impressive.

What I am against, is Scots MPs voting on English matters - that's not right.

antrobus

BobQ wrote: »

...What examples are there of a nation using another's currency without their agreement?...

Yes, there are a number of states that use the USD. Most of them are small Pacific island states, Micronesia, East Timor, BVI, etc. I think Ecuador as well. I don't think that USA has actually given permission to all of them.

purch

plus many others who tie, or have tied their own currency to the USD

As we no longer have exchange controls in place or any limits on cash movement I am not sure what we could do to stop another country/area using our currency as their own legal tender

I suppose we could ask them nicely to stop

BobQ

purch wrote: »

plus many others who tie, or have tied their own currency to the USD

As we no longer have exchange controls in place or any limits on cash movement I am not sure what we could do to stop another country/area using our currency as their own legal tender

I suppose we could ask them nicely to stop

So this would effectively mean that they would buy Sterling on the open market but have no influence on what the BOE did in allowing its value to change. I can see that the BVI might be content with such an arrangement but would a country of the size of Scotland want that I wonder.

System

BobQ wrote: »

So this would effectively mean that they would buy Sterling on the open market but have no influence on what the BOE did in allowing its value to change..

Like buying Bitcoins then.

What would they buy it with?

olly300

Buzby wrote: »

We've been 'united' for 305 years or so, some good, some bad. Lets try the alternative. The British Empire of old has been given back to the original countries, why should Scotland be exempt?

You do realise you have to pay for the Royal Family as well?

She's more Scottish than English anyway. Though more German than anything.