For your information we can take the pound even without the union agreeing to it.
And if the UK government cut there nose off and dont give us a currency union enjoy your debt. Here in a debt free scotland we will be laughin.
I'm sure you have all herd on the news in the last 24 hours about Mr Osborn making a speech tomorrow saying scotland wont be able to keep the pound after #Scottish #Independence
If you haven't seen the articual please see here:
BBC News - Scottish independence: UK parties 'will block money union'
Just in case you where worried, Don't be.
We (Scotland) Own the pound, it is our currency weather the UK government like it or not. Just under 9% of it in fact.
Unfortunately, By saying we wont be able to use the pound it makes everyone query what excally would happen. Well, on that note experts have decided to let us know our options:
Poundland: Independent Scotland?s currency options - The Scotsman
Just rember this:
The UK not agreeing to a currency union will be the makers off:
- It’ll be massively unpopular with business on both sides of the border, and risks all sorts of havoc and damage to the UK economy just as it starts to recover.
- Scottish voters are likely to regard it as arrogant bullying.
- It gives the Yes side seven months to get the public used to a Plan B, of which there are several viable possibilities that aren’t very scary. (The most probable seems a Scottish pound pegged to Sterling.)
- It gets the Scottish Government off a rather awkward hook of uncertainty, and also frees the Yes camp from some troublesome internal conflicts around the issue that “Better Together” has enjoyed exploiting.
- It gives the Scottish Government precious little reason to accept any share of rUK debt, leaving an independent Scotland starting with a clean slate rather than up to £150bn of debt.
At Scotland’s current deficit (most of which is actually UK debt repayments), it’d take us about 100 years to rack up that sort of sum – even factoring in higher borrowing costs, being able to walk away from that is still a very visible jackpot.
- It leaves the UK government pretty short of bargaining chips in independence negotiations. What exactly do they have left to threaten Scotland with? Sterling was the one thing Scotland really wanted from the deal. Any hopes the UK government had of keeping Trident in place for a few years, for example, are surely now shot to pieces.
Good luck to them. I think them for making a bigger mockery of what the Better Together campaign was already doing.