New Currency for a new Country

Gangaweed

IveSeenTheLight wrote: »

How does Denmark for example survive.

Seriously? Comparing Scotland to a Scandinavian country?

Denmark has an educated population, it espouses free market economics within a social democrat manner. Government debt is fairly low at 44%. They are running a surplus. Life expectancy is 79.5. Scotland has haggis... and life expectancy of 72.5.

Literacy rate in Scotland 73%, Denmark, 99%

Get real. There is no comparison between Scotland and the Nordics.

None at all. Its a fantasy!

zagubov

Gangaweed wrote: »

Literacy rate in Scotland 73%, Denmark, 99%

Yeah, right!

In your next post you'll probably claim that Danes have more legs than Scots due to kilt-related injuries.

I'm not saying we don't trust your numeracy after this post, but I think if we asked you to count your hands twice, you'd give us three different answers.:eek:

purch

IveSeenTheLight wrote: »

Do they?

What examples can you provide from the world population for referndums on currency change and are there any cases of these being reversed later on.

Do you ever actually read the posts ?

I said, that people have a say in their currency through the Government they elect.

People who live in a country that uses another nations currency do not have that say.

I was not referring in any way to people having a referendum to choose the currency they use.

If you want to live in a country that piggybacks on the currency of another nation, which therefore removes all say in how that currency is run, then be my guest.




P.S. In 2000 Denmark had a referendum to choose which currency they would use, either their own DKK or the EUR and they chose the DKK

purch

chewmylegoff wrote: »

Given that many pretty tinpot countries seem to manage having their own currency without everyone dying this all seems a bit silly.

As the Nats have had 300 years to decide what currency they would be using it is really silly.

The decision over what currency you will be using as an Independent country is the most important decision in the whole process, as any economic plans you have are dependant on it.

Why the YES camp, who have had years to think about this could not present concrete plans right from the start of the campaign is a mystery, and if I were a Scot, make me very very nervous.

Personally I would like Scotland to be an independent nation, there is no reason why they should not be, and they should have their own currency.

Unfortunately all those who want to be Independent are being seriously let down by the ineptitude of the leaders of the party who want to take them there.

CKhalvashi

purch wrote: »

P.S. In 2000 Denmark had a referendum to choose which currency they would use, either their own DKK or the EUR and they chose the DKK

In Georgia, we had the choice (through who was elected in 2012) as to whether to push for a pegged currency and continue with the plans for EU membership (of which no final decision has still been made, but more and more of the country are moving against), and chose not to.

Whether any Scottish currency would be pegged to something is yet to be seen, but depending on what is split in which way, Scotland could emerge stronger than it is now, thus maintaining a benefit in deliberately forcing the currency to remain weaker than naturally would be the case.

Same goes the other way, to retain import benefits for the local population.

CLAPTON

CKhalvashi wrote: »

In Georgia, we had the choice (through who was elected in 2012) as to whether to push for a pegged currency and continue with the plans for EU membership (of which no final decision has still been made, but more and more of the country are moving against), and chose not to.

Whether any Scottish currency would be pegged to something is yet to be seen, but depending on what is split in which way, Scotland could emerge stronger than it is now, thus maintaining a benefit in deliberately forcing the currency to remain weaker than naturally would be the case.

Same goes the other way, to retain import benefits for the local population.

a lower than optimal currency value, is a good way of making your neighbours rich and yourself poor.

BACKFRMTHEEDGE

Scots vote worries Hargreaves Lansdown clients


the UK’s leading retail investment management group, said it was getting increased calls from clients concerned about the potential impact of Scottish independence on their personal finances in the run-up to the referendum

http://www.ft.com/cms/s/0/58d77e50-3333-11e4-9607-00144feabdc0.html?siteedition=uk#axzz3CGo4iQvo

The Hargreaves Lansdown stock has become one of the biggest losers on the UK equity market as clients are increasingly concerned with the possibility of Scottish independence.
The group's share price fell by 2.7% in early trading to 1108.00p after it admitted that it is receiving a high number of phone calls from clients who have become concerned that Scotland will end its 307-year union with the UK, following a YouGov poll that showed the Yes and No vote is closing significantly.

http://www.ibtimes.co.uk/scottish-independence-hargreaves-lansdown-shares-tumble-amid-union-break-fear-1463743

BACKFRMTHEEDGE

Thinktank Capital Economics says: "We would not be surprised if the Bank of England's contingency preparations, which [governor] Mark Carney highlighted two weeks ago, included capital controls on the Scottish financial sector to prevent a run on Scottish banks immediately after the referendum result was announced."

http://www.theguardian.com/politics/2014/sep/03/scottish-independence-city-rattled-sterling

:think:

Hum what do you think is safer a UK state owned bank like Lloyds or RBS or a totally English based bank with no links to Scotland?

BACKFRMTHEEDGE

Credit rating agency Standard & Poor's, for example, warned last month that a vote for independence could trigger a negative rating action against insurance companies operating in Scotland.
But retail investors are showing no signs yet of voting with their money, partly because there is so much uncertainty over a range of issues from tax to regulation if there is a "yes" vote in the referendum on Sept. 18.
A small number of retail investors put in calls to their financial adviser after polls showed the gap between the "yes" and "no" votes narrowing.
"The feedback from our helpdesk is that we're not being deluged with calls, a few a day is the kind of numbers," Tom McPhail, head of pensions research at fund supermarket and financial advisor Hargreaves Lansdown, said.
"But if there's a major news story, such as the poll earlier in the week, it focuses people's attention on the likelihood of a 'yes' vote and triggers calls," he said.
That sentiment would likely lead to clients considering their options over the next two weeks, an analyst at investing platform Trustnet Direct said although there was no panic yet.

Of the nearly $3 billion pulled from mutual funds investing in UK stocks this year, two-thirds were withdrawn from money managers primarily based in Scotland, data from fund tracker Lipper showed. But analysts said factors including some mergers and acquisitions in the industry and poor performance were the main reasons behind the outflows.
"Whilst we have had communications with customers regarding the referendum, nobody has made reference to selling funds as a result," Edward Johnson, commercial manager at investment service provider Willis Owen, said.
Institutional investors, such as pension funds and other professional investors, have poured $9 billion into Scotland-based hedge funds firms, adding to a $10 billion allocation last year, data from Eurekahedge showed.
FEW SELLERS
The latest poll that showed record support for Scottish independence caused some financial market turbulence, pushing the pound to five-month lows this week.
But Scotland-based stocks have recently reversed months of underperformance despite the prospect of a possible split from the United Kingdom, partly because the immediate impact of a "yes" vote is hard to quantify.
Retail investors who did make phone calls on Scotland had questions around issues such as their investments in Royal Bank of Scotland, certain Scottish with-profits funds, or Scottish investment houses, McPhail said.

http://uk.reuters.com/article/2014/09/03/uk-scotland-independence-investors-idUKKBN0GY25W20140903

Generali

zagubov wrote: »

Yeah, right!

In your next post you'll probably claim that Danes have more legs than Scots due to kilt-related injuries.

I'm not saying we don't trust your numeracy after this post, but I think if we asked you to count your hands twice, you'd give us three different answers.:eek:

http://www.bbc.co.uk/news/uk-scotland-10963769

http://country-facts.findthebest.com/q/66/2395/What-is-the-literacy-rate-in-Denmark-a-country-in-the-continent-of-Europe

Tis true, or at least appears to be.