Father Ted said:Im going to get crucified for saying this, but deep down I suspect the real reason is that inside every Scot is the burning desire to paint their faces blue, wave their bums at the Brits and shout ....
joe mcclaine said:Meh, we've given other Third World nations their freedom back so I reckon it's time to let the Porridge Wogs stand on their own two feet.
I mean, what's the worst that could happen?
joe mcclaine said:Meh, we've given other Third World nations their freedom back so I reckon it's time to let the Porridge Wogs stand on their own two feet.
I mean, what's the worst that could happen?
Doggycam said:joe mcclaine said:Meh, we've given other Third World nations their freedom back so I reckon it's time to let the Porridge Wogs stand on their own two feet.
I mean, what's the worst that could happen?
Is this from Bernard Manning's famous book "Quotes for the Insecure Closet Racist" ?
ravey said:In the event etc. nobody would be able to stop Scotland using sterling (anyone can use any currency they choose), Isle of Man use it for example. Of course like IoM we wouldn't accept Scottish notes ironically.UKRob said:Simple question - and maybe someone will be able to tell me what the answer is - has anyone asked the Independence party to explain what their strategy is in the event of not being able to use sterling?
One thing is for sure - you cannot control economic policy if you don't control the purse strings.
We're each other's biggest import/export market, so using sterling would make that easier but a new currency would possibly make more sense. The ideas thrown around that Scotland somehow wont be able to do anything for themselves is absurd and bordering on insulting if not downright racist. Scottish enlightenment was a major influence and driving force in American independence.
"When Estonia gained independence in August 1991, the government decided to create a new currency to replace the rouble. Less than a year later, in June 1992, deposits held in Estonian banks were redenominated, from roubles to kroons. Special counters at the new central bank were opened to allow residents to swap the old currency for the new one. As a show of confidence in the kroon, residents were also permitted to switch roubles for German marks, a strong currency. The scheme, reviewed in a 2002 IMF paper, worked well: the switch to a new central bank and currency took a week.
An independent Scotland should be able to follow this example. It will have more time to plan: fully 18 months between the vote and independence, which would come in May 2016. Scottish notes already circulate, and production could easily be scaled up. The new country's share of Britain's foreign-exchange reserves—around £9 billion—would provide credibility."
Full article here.
When I worked at a certain Scottish bank we had to change our domestic only systems to from sinlge currency to also allow euros to allow for banking services in Ireland and that cost millions, but most systems already cater for foreign currency and it's just a case of adding a few new settings to a parameter file or table.
Rebec911 said:Ben88 said:As a half Scot (mothers side) I hope they see sense and vote to stay in the UK.
I heard a snippet on the radio the other day which stated if Scotland went Independent without the £ they would need between fifty and one hundred billion to support their new currency.
How true/accurate a figure it is I don't know but if its even close that's just scary.
Yep!!! The Governor of the Bank of England stated that a independent Scotland would have to hold much larger reserves if it wished to use the pound without a currency union.
The conservative estimate for this is £21 Billion or £4000 for every Scottish Citizen:s
hunnymonster said:Simmer down please gents or this thread will go the way of the previous one.
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