Thread: The U.K and the E.U - In or out?

The constant referencing to Scotland keeping the pound fail to recognise that Scotland already has it's own pound. They print their own notes, and in the event of independence one assumes that Scotland would receive it's share of reserves on which to base it's value. Think US/Canadian dollar (or Australian/New Zealand etc).

Subsequent to independence, and after complying with current entry criteria to the EU, they would be obliged to adopt the Euro, again when their national finances met that further criteria.

Originally Posted by PAG

The constant referencing to Scotland keeping the pound fail to recognise that Scotland already has it's own pound. They print their own notes, and in the event of independence one assumes that Scotland would receive it's share of reserves on which to base it's value. Think US/Canadian dollar (or Australian/New Zealand etc).

Subsequent to independence, and after complying with current entry criteria to the EU, they would be obliged to adopt the Euro, again when their national finances met that further criteria.

Pretty sure none of that is actually correct.

Originally Posted by Begbie

Originally Posted by PAG

The constant referencing to Scotland keeping the pound fail to recognise that Scotland already has it's own pound. They print their own notes, and in the event of independence one assumes that Scotland would receive it's share of reserves on which to base it's value. Think US/Canadian dollar (or Australian/New Zealand etc).

Subsequent to independence, and after complying with current entry criteria to the EU, they would be obliged to adopt the Euro, again when their national finances met that further criteria.

Pretty sure none of that is actually correct.

I thought that you were Scots Begbie? Indpendence for Scotland has to mean they would receive a proportionate share of the UK's reserves (be it gold or anything else). How else could any currency they choose to use be supported).

Whilst the Scottish pound would likely be floated in the markets at the same level as the UK pound, then it would be subject to the same market influences and conditions as any other country.

The 3 main Scottish banks all issue their own notes (RBS, Bank of Scotland, and Clydesdale).

I'm fairly sure that it can still be a problem having Scottish notes accepted readily in England, except in those areas near the border.

Originally Posted by PAG

Originally Posted by Begbie

Originally Posted by PAG

The constant referencing to Scotland keeping the pound fail to recognise that Scotland already has it's own pound. They print their own notes, and in the event of independence one assumes that Scotland would receive it's share of reserves on which to base it's value. Think US/Canadian dollar (or Australian/New Zealand etc).

Subsequent to independence, and after complying with current entry criteria to the EU, they would be obliged to adopt the Euro, again when their national finances met that further criteria.

Pretty sure none of that is actually correct.

I thought that you were Scots Begbie? Indpendence for Scotland has to mean they would receive a proportionate share of the UK's reserves (be it gold or anything else). How else could any currency they choose to use be supported).

Whilst the Scottish pound would likely be floated in the markets at the same level as the UK pound, then it would be subject to the same market influences and conditions as any other country.

The 3 main Scottish banks all issue their own notes (RBS, Bank of Scotland, and Clydesdale).

I'm fairly sure that it can still be a problem having Scottish notes accepted readily in England, except in those areas near the border.

They'd have to print loads of cash to pay off their share of the UK's debt.

Then try joining the Euro - I'm pretty sure Brussels wants to take on another debtor nation!

Originally Posted by Begbie

Scottish pounds are not a separate currency.

Not suggesting they are, only that Scottish pounds exist. Of course it's exactly the same value as anything issued by the Bank of England, my point being is the name 'pound', and the analogy with 'dollar'.

Realistically, it will take a minimum of 2 years plus for the UK to extricate itself from the EU (assuming that it will indeed go ahead).

How long do you think Scottish independence would take? Think division of overall UK assets and services, both civil service and military. There would certainly be a burgeoning of Scotland's public sector for sure, creating all of their new departments and a building boom providing offices to accommodate them.

It wouldn't be the same as dealing a pack of cards around the table.

Indeed, the more realistic time frame for England to forge its new commercial relationship with the world including its European neighbours will be around seven years.
Scotland, given the clear indication from the EU that they must first gain independence before they join the EU, will arrange for their freedom vote immediately. Implementing the break will take two years. Their deficit is large and not immediately appealing but the fundamentals are sound and it wouldn't take too much persuasion for the ECB to adopt a relaxed view.

Scotland should adopt the Euro but any break should maximise pain for the Sassenach cvunts.

Joining Schengen would be most amusing and fuck the English Border Force and that desiccated bitch, May, right up the arse.

Originally Posted by Seekingasylum

Indeed, the more realistic time frame for England to forge its new commercial relationship with the world including its European neighbours will be around seven years.
Scotland, given the clear indication from the EU that they must first gain independence before they join the EU, will arrange for their freedom vote immediately. Implementing the break will take two years. Their deficit is large and not immediately appealing but the fundamentals are sound and it wouldn't take too much persuasion for the ECB to adopt a relaxed view.

Scotland should adopt the Euro but any break should maximise pain for the Sassenach cvunts.

Joining Schengen would be most amusing and fuck the English Border Force and that desiccated bitch, May, right up the arse.

Excellent, thEU will be stuck with bailing out a poor southern country and another basket case bunch of blood sucking misfits in the north. There is no mileage in this for the EU.