Should Scotland be an independent country?

gm_xone

sharnad wrote: »

So no facts hen where was the data from

You obviously never watched the 2nd video.
At the start of it, (from about 2mins in), Ivan Mckee explicitly states that all the data analysed, talked about and referred to, including by both the UK and Scottish governments, all comes from one source - the annual Government Expenditure and Revenue Scotland (GERS) Report.

gm_xone

frank777 wrote: »

:)Have the MPs discussed how the Scottish Independence Referendum Vote will effect the English savers, what if the New Scottish Government choose to reject the GB Pound in favour of their own currency, will the exchange rate be the same! Any uncertainty could cause a panic, and if all the English savers closed their accounts the BoS may need to be bailed out by England? - unless the New Scottish Government apply for membership to the EU.

Governments (and countries) don't set exchange rates!

The banks are like other companies, in that some fail. Some countries took the decision to bail out certain banks in the "crash", because they decided it was the better option for their economies in the long term, than to let those banks go under. Some banks and financial institutions around the world weren't saved, though, and some countries chose not to use taxpayers' money to bail out those failed private companies.
Banks were bailed out by the countries these banks were operating in, not on the basis of where the bank was headquartered.

The current Scottish Govt. have clearly stated they will use the pound, and will negotiate (from within, as an existing member) to remain in the EU.

gm_xone

scotsman4th wrote: »

I think the BoE would WANT an Independent Scotland to use Sterling.
I'm sure if we adopt it, they would make money out of us using it.

As far as Europe goes, they wont have to apply and they wont have to adopt the Euro. (that might be a load of cobblers, just because I say it on an internet forum, or its mentioned by a biased Spaniard, doesnt make it true).

I was under the impression David Cameron could ask the question as the Prime minister of the UK but for some reason doesnt.

The Bank of England is the UK's bank. It's a UK asset. Upon Scotland becoming independent, Scotland would be entitled to a share of the BoE. If the UK assets and liabilities (the debt) are apportioned on a population-share basis, then Scotland would inherit 8.4% of the BoE (well, specifically 8.4% of the value - no-one's going to be chopping-up and breaking-off bits of buildings and so on!).

No country can be forced into the euro. For example; neither Czech Republic (who joined the EU in 2004) or Sweden have adopted the Euro.
The EU stipulates that no member can do so without first being a member of the Exchange Rate Mechanism (ERM2) for two years, and be using their own currency throughout that time.
ERM participation, however, is not compulsory for new members. And therefore any country joining the EU – whether as a successor state or from scratch – which doesn't want to join the Euro can simply elect to remain outwith the ERM, and therefore put off joining the Euro indefinitely.

It is true that only the UK Government, as the existing EU member, can approach the EU for absolute clarification on the EU "entry" question. Scotland is currently wholly represented in the EU by the UK, and so at the moment only the UK Govt. can hold direct discussions with the other EU members.

gm_xone

LisaW123 wrote: »

I don't think an independent Scotland will have the option of keeping Sterling as it's currency. If an independent Scotland wants to retain membership of the EU, it will have to apply as a secession state and part of this will involve taking the Euro as currency.

Scotland can use Sterling. It's a fully tradeable global currency any nation can adopt.
See my post above as to why Scotland does not have to adopt the euro.

sharnad

gm_xone wrote: »

You obviously never watched the 2nd video.
At the start of it, (from about 2mins in), Ivan Mckee explicitly states that all the data analysed, talked about and referred to, including by both the UK and Scottish governments, all comes from one source - the annual Government Expenditure and Revenue Scotland (GERS) Report.

No I missed that bit, did watch the video. Pity they couldn't get a financial expert to put forward the case rather than someone trying to twist the facts

sharnad

gm_xone wrote: »

Scotland can use Sterling. It's a fully tradeable global currency any nation can adopt.
See my post above as to why Scotland does not have to adopt the euro.

You might not get a up currency union with the uk. You could always have the Scottish pound, not accepted in the uk but okay in scotland

sharnad

gm_xone wrote: »

The Bank of England is the UK's bank. It's a UK asset. Upon Scotland becoming independent, Scotland would be entitled to a share of the BoE. If the UK assets and liabilities (the debt) are apportioned on a population-share basis, then Scotland would inherit 8.4% of the BoE (well, specifically 8.4% of the value - no-one's going to be chopping-up and breaking-off bits of buildings and so on!).

No country can be forced into the euro. For example; neither Czech Republic (who joined the EU in 2004) or Sweden have adopted the Euro.
The EU stipulates that no member can do so without first being a member of the Exchange Rate Mechanism (ERM2) for two years, and be using their own currency throughout that time.
ERM participation, however, is not compulsory for new members. And therefore any country joining the EU – whether as a successor state or from scratch – which doesn't want to join the Euro can simply elect to remain outwith the ERM, and therefore put off joining the Euro indefinitely.

It is true that only the UK Government, as the existing EU member, can approach the EU for absolute clarification on the EU "entry" question. Scotland is currently wholly represented in the EU by the UK, and so at the moment only the UK Govt. can hold direct discussions with the other EU members.

Scotland won't be entitled to any part of the Bank of England after independence

sharnad

gm_xone wrote: »

Governments (and countries) don't set exchange rates!

The banks are like other companies, in that some fail. Some countries took the decision to bail out certain banks in the "crash", because they decided it was the better option for their economies in the long term, than to let those banks go under. Some banks and financial institutions around the world weren't saved, though, and some countries chose not to use taxpayers' money to bail out those failed private companies.
Banks were bailed out by the countries these banks were operating in, not on the basis of where the bank was headquartered.

The current Scottish Govt. have clearly stated they will use the pound, and will negotiate (from within, as an existing member) to remain in the EU.

Yes the Scottish government have said they would mile to use the pound and will try to get back in the eu. Doesn't mean it will happen

zagubov

sharnad wrote: »

You might not get a up currency union with the uk. You could always have the Scottish pound, not accepted in the uk but okay in scotland

sharnad wrote: »

Scotland won't be entitled to any part of the Bank of England after independence

sharnad wrote: »

Yes the Scottish government have said they would mile to use the pound and will try to get back in the eu. Doesn't mean it will happen

Might be better all round if they don't.

The EU sounds like it wants too high a price for Scotland. Why bother?
Better if Scotland gives them the body-swerve and enters the EEA via the EFTA route. Only two-thirds of the cost of EU membership, regaining control of fisheries, not having to play games to avoid the euro, can do deals with NAFTA and other trade blocs, keep membership of the Common Travel Area etc.

What does Scotland lose? Less than it gains. Plus, if it's not seen as a successor state, no debts or assets get passed on as it's a clean slate. Not a bad deal for an oil-rich, coal-rich uranium-rich renewables-rich, water-rich and gas-rich underpopulated country with fisheries, Europe's fifth biggest financial centre to give it a financial track record and an educated workforce.

Arwen

I have been a member here for years.I am on a LOT of facebook pages re independence and have never seen a link to this vote, until this result was discussed, so unsure where any social media campaignd come in.