Effect of Scottish Independence Vote

planteria

TCA wrote: »

The mass outrage from south of the border at his apparent bullying is hilarious. Bullying? Laughable.

are you serious TCA? i haven't heard of any outrage in England, or any suggestions that Salmond is bullying anyone.. just lots of laughing at him.

planteria

TCA wrote: »

If the rest of the UK don't want a formal currency union, then there won't be one and Salmond can say what he wants.

Exactly. that is why people are amused by his rants, denials and lies.

TCA wrote: »

Don't know why the Englanders are getting their knickers in a twist. He's certainly winding you up excellently.

Are you in Scotland seeing the English reaction to Alex Salmond portrayed in that way? If so it is far from the reality. And bear in mind that a lot of the 'Englanders' want Scotland to vote "Yes".. we just know that, as it stands, they would be doing so on a pack of lies.

macman

black_taxi wrote: »

Britain means so much more to England,I drive a cab edinburgh,and English punters I pick up are genuinely sad if Scotland left.

I'm undecided ,the union has been 300+ years!and it's a huge emotional decision to leave

If I had a vote (which I don't) I'd be thinking about the financial repercussions of independence rather than the emotional ones. If Scotland would be demonstrably worse off under independence, I guess that most Scots could live with the emotional downside of remaining in the UK.
If independence does happen though, the SNP would be insane to adjust income tax or corporation tax rates up and so encourage a flood of capital south of the border. They're more likely to do the opposite.
For me though, what will sway the undecided is the announcement from Barroso that Scotland will have to apply for EU membership like any other new state (which I'd assumed to be the case anyway). So that will take a minimum of 2 to 3 years, require Scotland to join the euro zone, and require them to join the Schengen agreement (no opt-outs are possible now for new members). So, no possibility of a sterling currency union, and the introduction of border controls between Scotland and the remainder of the UK.

planteria

TCA wrote: »

We now have one, very important piece of pre-negotiation re a currency union: no negotiation at all.

but that is how it should be, surely, TCA? If Scotland leaves the UK, England, Wales and Northern Ireland are not going to agree to a currency union with Scotland. So it is right for George Osborne to say so. What is wrong is for Alex Salmond to try to convince the Scots that he's wrong.

planteria

TCA wrote: »

Osborne has just dictated and his approach hasn't been appreciated.

he's just told the truth. appreciated or not.:)

planteria

TCA wrote: »

The fact that his manner annoys rUK is of no consequence to him.

on the contrary. no annoyance, just amusement. it seems it's the Scots that are annoyed.

planteria

TCA wrote: »

People keep forgetting it wouldn't necessarily be the SNP in charge...

i was making the exact same point. surely the Scots won't be stupid enough to keep him in charge, in the very unlikely event that they are stupid enough to vote for independence based upon his lies..

if they believe him, then kick him out, i think things could turn out very well for Scotland. but it wouldn't be by leaning too far left, that is for sure.

planteria

TCA wrote: »

This seems to be the current fad. To put over some ridiculous viewpoint and when faced with the facts, just throw out an accusation or two about people being know-alls.

that is Alex Salmond, right?

planteria

macman wrote: »

If independence does happen though, the SNP would be insane to adjust income tax or corporation tax rates up and so encourage a flood of capital south of the border. They're more likely to do the opposite.
For me though, what will sway the undecided is the announcement from Baroso that Scotland will have to apply for EU membership like any other new state (which I'd assumed to be the case anyway). So that will take a minimum of 2 to 3 years, require Scotland to join the euro zone, and require them to join the Schengen agreement (no opt-outs are possible now for new members). So, no possibility of a sterling currency union, and the introduction of border controls between Scotland and the remainder of the UK.

entirely agree. there would be an attempt to pull companies north of the border, perhaps with success.. WPP moved to Ireland, for example. and yes, what Barroso had to say was already well known, but somehow it seems that his comments on sunday morning to Andrew Marr were actually listened to. the Scotland that Salmond is selling is not for sale, it's the one that the other countries would allow Scotland to have. harsh, but true.

jamesd

TCA wrote: »

You're trying to say that because a UK bank is registered in Edinburgh, then for some reason UK banking rules don't apply and the Scottish government should cough up? That's just nonsense.

It's how the current passport system works, the system of the EEA country which authorises the firm has the liability:

"It is possible for a bank to be operating in the UK with the FCA's full approval, yet the protection you get is not provided by the UK government. It's not banks owned in far-flung countries you need to watch, but European-owned banks.

That's because banks from the European Economic Area are allowed to opt for a slightly different protection, called the 'passport' scheme, which means if they went bust, you'd have to claim money back from the bank's home country's compensation scheme.

Banks from outside Europe can't do this, and therefore if they operate here have full UK compensation."

However, at least initially you'd be right, because Scottish financial institutions may not be able to use the passport scheme because Scotland wouldn't be in the EU and might not be in the EEA and so institutions would have to sign up to the FSCS instead to do business in England, Wales and Northern Ireland.

And of course, a foreign institution, whether in a newly foreign Scotland or not, could choose to try to join the FSCS even if eligible for the passport system. I assume that most would try to do that.