Censored : the debate

IveSeenTheLight

IronWolf wrote: »

What has Scotland contributed to the Bank of England??

It's concept for one

CLAPTON

IveSeenTheLight wrote: »

It's concept for one

maybe the Scots could write a song about it and replace the Flower of Scotland as their anthem

IveSeenTheLight

CLAPTON wrote: »

maybe the Scots could write a song about it and replace the Flower of Scotland as their anthem

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IveSeenTheLight wrote: »

Someone wake me up when you get or make a point worth responding to.

I find nothing of interest in the above post

CLAPTON

IveSeenTheLight wrote: »

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you are right


William Paterson was a Scotsman devoid of any qualities worth celebrating.

chewmylegoff

sss555s wrote: »

:rotfl: Can it possibly be any worse than the embarrassment of Westminster financial calamities.




Ridiculous random answer but the best reply, sadly.

I guess were all just going to get used to the fact that the bank of England is owned by the UK government.

I'm well aware that the Bank of England is a UK asset. But it is not an asset that you can take 8% of and flounce off anymore than you can have 8% of Buckingham palace or 8% of heathrow airport.

If you leave a union then you have to accept that means you can't keep everything exactly as it is now, or keep your "fair share" of each and every asset. Similarly you can't demarcate assets by geographical location when it suits you (oil) and by share of investment when geographical location works against you.

When you break away from something you have to accept that you don't get to dictate all of the terms.

So, the Bank of England 'belongs' to the UK and will continue to belong to the UK if Scotland stops being in the UK. That is because without political union there cannot be a shared central bank. Losing the shared central bank is an inevitable side effect of leaving the political union. If Greece left the EU do you think it could demand that it is allowed to continue to be formally part of the Euro on the grounds that it had paid its contributions to the EU and therefore owned a share of the central bank? The idea is laughable.

sss555s

chewmylegoff wrote: »

I'm well aware that the Bank of England is a UK asset. But it is not an asset that you can take 8% of and flounce off anymore than you can have 8% of Buckingham palace or 8% of heathrow airport.

If you leave a union then you have to accept that means you can't keep everything exactly as it is now, or keep your "fair share" of each and every asset. Similarly you can't demarcate assets by geographical location when it suits you (oil) and by share of investment when geographical location works against you.

When you break away from something you have to accept that you don't get to dictate all of the terms.

So, the Bank of England 'belongs' to the UK and will continue to belong to the UK if Scotland stops being in the UK. That is because without political union there cannot be a shared central bank. Losing the shared central bank is an inevitable side effect of leaving the political union. If Greece left the EU do you think it could demand that it is allowed to continue to be formally part of the Euro on the grounds that it had paid its contributions to the EU and therefore owned a share of the central bank? The idea is laughable.

We don't want to dictate all the terms.

If we did we would want to keep the banking as it is and not pay any of the UK's debt.

We are happy to work together for the better of both sides (as in the Edinburgh agreement) and give and take.

Sounds like you want us to take some UK debt and have no banking "union".

That sounds a lot like you want it all your own way and nothing like the Edinburgh agreement.

Tromking

sss555s wrote: »

So what would you rather have?

A currency union or Scotland take a share of the UK debt?

I think it might be useful for Scots to acknowledge that the supine Westminster they currently run rings around would turn into a wholly different animal should they vote yes next month. Free from the worry of upsetting the Scottish for fear of them leaving, Westminster with the backing of a rabid English media and aggrieved electorate would be under pressure to play hardball in any pre-independence negotiations.I for one would happily take on the Scots share of the national debt and refusing a currency union if it ended up hindering the Scots breakaway.

sss555s

Tromking wrote: »

I think it might be useful for Scots to acknowledge that the supine Westminster they currently run rings around would turn into a wholly different animal should they vote yes next month. Free from the worry of upsetting the Scottish for fear of them leaving, Westminster with the backing of a rabid English media and aggrieved electorate would be under pressure to play hardball in any pre-independence negotiations.I for one would happily take on the Scots share of the national debt and refusing a currency union if it ended up hindering the Scots breakaway.

I'm sure it will work both ways.

I wont be happy with every negotiation and neither will you be.

If YES win then we are supposed to be working together for the better of Scotland and the UK (according to the Edinburgh agreement)

Do you think Cameron will break his agreement?

Graham_Devon

sss555s wrote: »

Sounds like you want us to take some UK debt and have no banking "union".

Sounds like you believe that the rest of the UK should owe you something simply because you paid your share of the debt?

Tromking

sss555s wrote: »

I'm sure it will work both ways.

I wont be happy with every negotiation and neither will you be.

If YES win then we are supposed to be working together for the better of Scotland and the UK (according to the Edinburgh agreement)

Do you think Cameron will break his agreement?

Maybe!
I think there's a world of difference between a pre-vote agreement where both sides have an interest in appearing reasonable and the reality of the actual negotiations where emotions might be running high especially if it's Cameron, the ignominy of being the Tory PM who lost the Union might make him less than helpful from a Scottish point of view. I'll be writing to my Tory MP exhorting him to take the Scots to the cleaners if a yes vote comes to pass, that'll be the game we're in I'm afraid.