Effect of Scottish Independence Vote

planteria

giffnockhibee wrote: »

If we can get past the World Cup without England winning it, that's the time to pile in on "No".

if we get battered in Brazil and the Jocks are mocking, the Yes Campaign might get a good helping hand;)

planteria

Triumph13 wrote: »

Telegraph today claiming that Salmond has revealed 'Plan B' as using Sterling without currency union which would mean no say over monetary policy.

Whilst that might not be great for Scotland, it sounds perfect for Mr Salmond - he gets independence, but still gets to blame the English for anything that goes wrong by blaming it all on rUK monetary policy...

:laugh: he's not that stupid. is he? being serious, he's just not going to be able to swing it. i come back to my earlier responses to TCA. the residents of Scotland are just not going to vote for a position so unclear.

planteria

rpc wrote: »

It has been the line taken by many Yes supporters, so isn't exactly unexpected.

Most people will be taken in by this,....

i'd be amazed. it will not be hard for a No campaigner to explain the facts and if it comes to a serious prospect a currency which would be out of all Scottish control, the crowds would be mad to go for it.

black_taxi_2

English notes are the only notes in the UK that don't have sterling written on them,found that out when I was handed a £50 English note and thought it was a forgery.

phoned my control and they told me to it was ok,the English bloke didn't realise also,both had a laugh

bigadaj

I'm not bothered either way but I'd have thought the default position would be for Scotland to retain sterling, initially at least, but have no input on policy.

However I'm not sure what actual difference this would make, if you look at any country then interst rates are set for one area particularly or an average to the advantage or detriment of particular zones or states.

If monetary policy is determined in london, with a primary driver coming from the capital and it's immediate environs, is that really any different if teh scots retain sterling as part of teh uk or an independent country?

planteria

bigadaj wrote: »

I'm not bothered either way but I'd have thought the default position would be for Scotland to retain sterling, initially at least, but have no input on policy.

However I'm not sure what actual difference this would make, if you look at any country then interst rates are set for one area particularly or an average to the advantage or detriment of particular zones or states.

If monetary policy is determined in london, with a primary driver coming from the capital and it's immediate environs, is that really any different if teh scots retain sterling as part of teh uk or an independent country?

a fair point. you could argue that Cornwall, Cumbria etc. can be in very different positions to London.. but the point is that Scotland would officially have no influence at all on the currency that they were using.

rpc

planteria wrote: »

i'd be amazed. it will not be hard for a No campaigner to explain the facts and if it comes to a serious prospect a currency which would be out of all Scottish control, the crowds would be mad to go for it.

To most people, currency is what they have in their wallet. The pound is notes and coins, not the concept of inflation management or lenders of last resort. It will be hard to explain the consequences, particularly given the current anti-bank sentiment. The banking bail out isn't really very popular (even though it was necessary) and how much of the electorate really understands QE?

There's already a list of "foreign" countries that use the pound (some are BOT or Crown Dependencies), not sure why we want to emulate any of them...

Alex keeps on spinning - his "announcement" was:

Of course the pound is an internationally tradable currency. It's not a question of keeping the pound, it's a question of whether there would be agreed a currency union.

Which is what Osbourne said. So Osbourne was bullying and blustering while Alex is setting out a reasonable position? Osbourne just added "there will be no currency union" to the end of it.

black_taxi_2

if scots vote yes,Osborne has to resign,no market will beleive what he says

Archi_Bald

rpc wrote: »

Which is what Osbourne said. So Osbourne was bullying and blustering while Alex is setting out a reasonable position? Osbourne just added "there will be no currency union" to the end of it.

Like with QE, a lot of the electorate won't have a clue what this is about. As you say, for them currency is the coins and notes in their pockets.

black_taxi_2

Osborne is using the NUKE bluff