Scottish Independance

[JudgeDredd]

Oh...and I do concede that there are risks with a currency union for both sides...but what the rest of the UK does get is that huge hole in the balance of payments plugged and both north and south of the border will evade a ridiculous currency conversion rate...and that really will hit businesses.

[JudgeDredd]

I know you said politely. I was just pointing out that the phrase wasn't one which most Scots would use to describe what they are trying to achieve.

Some of the countries in the Euro zone have completely different work ethics and practices. One of the reasons Greece (as an example) was in such trouble was because they had lucrative pensions, introduced very early in their lives, with people living longer...it was totally unsustainable. That's only one very small example of why Greece and the rest of the Euro were in trouble. Scotland and England are nowhere near as different as the excessive examples in the euro zone. The euro zone is full of very, very different economies and work practices...Scotland and the rest of the UK are not.

So we'll have to agree to disagree on the economies...though I concede that the differences could become more stark over the years - as they could as a union.

As for the Bank of England...you are correct. It may not remain independent...though it would be another catastrophic mistake by Westminster to regain control. The Bank of England has done a superb job of managing the finances of the country (yeah - I know about the banking crisis...but we can't blame EVERYONE for that). Handing control of the Bank of England back to bureaucrats would be a mistake of epic proportions.

Also - no one is saying the Bank of England would implement financial policies that would "hurt" Scotland or the rest of the UK...they would simply implement changes that would keep the pound on track...and that would not normally mean hurting anyone - it would be to encourage growth in both countries and as such, both countries should always benefit as well as be stung from time to time.

I watch the Governor of The Bank of England Mark Carney talking on The Andrew Marr show on Sunday and he seems to be one of the single most intelligent people in office I've seen in some time.

[JudgeDredd]

By the way - where's sapper32...he started all this [;)]

[Alchenar]

This article is pretty good at explaining why the currency union thing isn't a bluff and won't happen and also explains why the SNP campaign strategy means they're acting this way.

[warspite1]

Excellent article - thanks.

[JudgeDredd]

I am of exactly the same mind...and by that I mean, want out, all out.

I do not care for a currency union for Scotland. I do not believe it will give them the Independence the SNP have been suggesting they seek. [:-]

I do not agree with the SNP broaching it as a topic and I do not agree with them chasing it. Leave it. [:-]

Get another currency or use the pound out of familiarity but without the Bank of England's influence and start fresh. [&o]

Meant to say - I think there's a lot to be said for using their own currency. There's plenty of countries using their own currency and doing just fine. Why? Because they are in charge of keeping it in line

[Erik Rutins]

Hi everyone,

No politics means no politics, thanks you, though I greatly appreciate the overall level of politeness and the interest in the subject. Thread locked.

Regards,

- Erik