0 Members and 1 Guest are viewing this topic.
Shortbread.
If Scotland did eventually leave the union, what would their currency be?
Quote from: Bentley Bullet on May 11, 2021, 10:42:47 amShortbread.I’ll move there then...
BB, my nephew is a bricklayer and he is hoping that the Scots do go it alone.That wall up there needs plenty of patching up and he is hoping to put a price in fo4 the job.He should have a good chance of getting it because he votes Tory.
Quote from: drfchound on May 11, 2021, 11:13:32 amBB, my nephew is a bricklayer and he is hoping that the Scots do go it alone.That wall up there needs plenty of patching up and he is hoping to put a price in fo4 the job.He should have a good chance of getting it because he votes Tory.Don't exile me the wrong side of the border mate, that there wall is a couple of miles south of me
I've said all along that the SNP were massively lucky to lose the 2014 vote. They based their economic plans on the basis that oil would never again drop below $120/barrel. Within 6 months of the referendum, oil was down to $40/barrel. If they had gone for independence, Scotland would have been bankrupt before they started and there would have been riots on the streets.Instead they lost and the SNP just became more popular. It truly is a bizarre turn of events.
It will be interesting to see how they pitch this, because in 2014 they were saying that they would stay with sterling....that is not independence, and it will be irrelevant anyway by 2025.
Quote from: Herbert Anchovy on May 11, 2021, 10:14:01 amIf Scotland did eventually leave the union, what would their currency be? Haggis? If they got independence, re joining the Eu would be the SNP’ s next target. So it would be the Euro surely?
Albie Are you saying the whole concept of how central banks operate is about to be turned over? I think I missed that memo.Your post is a perfect example of how folk try to obscure the simple macroeconomic argument against Scottish independence. Fairy stories about how "everything is going to be different" as though the basic mechanisms of economics no longer apply. Nationalistic political ambitions put before black and white economics. Precisely what the Leave campaign did.
Albie.The fact that Scotland has a massive structural fiscal deficit means that its Govt consumes far more than it earns. In simple terms, Scotland cannot afford to pay for its schools, hospitals and bin collections without massive borrowing.That fact doesn't change, whether they use Pounds, Euros, digital currency or south Pacific conch shells as a means of exchange. Independent Scotland is faced with either massive spending cuts or the realisation that their currency is worth a damn sight less in the eyes of the world than the Pound is now.