Scottish Independence, practicalities of it?

[FLYER]

Originally Posted by TriumphStag

Wow...the forum starred out the word s0d ......

Thats why I told you lot to hack off as I cant say *** off....

No offence of course...

[Westonboy]

Originally Posted by FLYER

Respect, McEwans Champion ale is a fine brew, but our local Exmoor Beast is the 160 re map of ales.

Might i suggest SKULLSPLITTER brewed on our lovely Scottish islands .

Careful though as it will blow yer socks aff e[/QUOTE]

Blinking Heck Mr Flyer , I looked up Skull Splitter, 8.5%, A few pints of that and I would end up tossing my caber.

[SapperGB]

Originally Posted by TriumphStag

And yet with how wonderful Scotland is, you choose to live in England....

Personally I am sick of hearing about Scottish independence. The sooner you *** off the better (no offence). And to be truly independent you can have your own currency, and you can buy back your central bank with all that oil money.

It just makes me laugh that Salmond bangs on about self rule and independence and then wants to join the EU..... ha!

No offence taken - However having served my Oath of Allegiance and still carrying an injury sustained in conflict upholding that oath protecting all people of the UK (including you and your family) I would have thought I, along with many others had earned the right to live and work (and employ English people) in the UK, whether A citizen of an independent Scotland or not.

Not that I would need the right mind you, with Scotland being an EU country that is.

Could it be, that there is an underlying sign of jealousy in your statement? after all Scotland would be able to set its own immigration policy and by the sound of it, immigration lies as a hot topic with you?

Currency
I am sure that with Scotland being a major stakeholder selling back its stake in the bank of England would suffice in financing a Scottish central bank.

Scotland, which has 8.3% of the UK population, pays 9.2% of total taxes.

Setting up its own currency would be a plus (imo), allowing Scotland total financial independence, setting interest rates etc. but this idea would require substantial foreign exchange reserves being bought and Scotlands creditors would be mad not to impose high interest rates on an unproven economy, this would lead to a degree of austerity.
Keeping the pound would mean no true independence as financial control would be restricted.

Of course, there would be a portion of the national debt to have to swallow, but how? there are two ways:

For Britain to simply transfer a portion (population share - based on the number of persons) to the tune of as much as £180 billion. this figure equates to a relatively high debt-to-GDP ratio by international standards (76%).

Should Britain transfer a historical share: split based on how much in the way of debt (or surpluses) Scotland and the rest of the UK generated in recent years. Because Scotland has generated a series of budget surpluses due to North Sea oil revenues, its share of the debt would considerably lower at approximately £100bn - 55% of Scottish GDP.

Either way Britain would be in trouble - they would effectively be defaulting on their debt, their creditors across the world, who had bought British gilts, would not be pleased to discover that they were now holding the debt of a small country with no track record in debt markets.

A quick edit:

I drifted off into the national debt a little there and I totally forgot to mention the 'up yours' stance that Scotland may take.

All the debt accrued up to the point of independence belongs to the Treasury, Scotland can’t default on debt that’s not legally owed.
So there you go, a national debt of £1.6 trillion and not a penny need be paid by Scotland, leaving the UK copping the lot - with a loss of almost 10% on income generated by Scottish taxes.
As I mentioned before a degree of early austerity would be needed should Scotland have their own currency (until it matures) but the rest of the UK would be forced into further austerity measures to recoup the reduction in taxes.

[Astraeus]

Originally Posted by TriumphStag

And yet with how wonderful Scotland is, you choose to live in England....

Personally I am sick of hearing about Scottish independence. The sooner you *** off the better (no offence). And to be truly independent you can have your own currency, and you can buy back your central bank with all that oil money.

It just makes me laugh that Salmond bangs on about self rule and independence and then wants to join the EU..... ha!

One thing not pointed out yet


Sterling belongs to all of us! Not to George Osborne, Labour, Lib/Dem, England, Wales or Northern Ireland! Just as much ours as yours!
What a crock of rot is being pumped about by politicians on all sides. All the assets belong to us all. Bit like a divorce ...you don't get to keep everything because your lawyer says it will all be yours. ( remembering he takes his fees first...bit like politicians)
Load of scare stories!

What will be will be.

Chris

[FLYER]

Hmmmmmm.

Looks like it,s going to be a long 7 months..

[Banjo]

Originally Posted by FLYER

Hmmmmmm.

Looks like it,s going to be a long 7 months..

Sadly I think that Sepember will only be the start of the problems. I sincerely hope that this does drive a wedge between the people of these islands - but divorces are seldom smooth or pleasant.

[murphyv310]

Originally Posted by Banjo

Sadly I think that Sepember will only be the start of the problems. I sincerely hope that this does drive a wedge between the people of these islands - but divorces are seldom smooth or pleasant.

A truer word has never been spoken. Its quite worrying when some spout off and sound so vindictive. There's nothing like a good old debate without being being nasty to our friends and neighbours.

[Simondi]

What. I would like to know is who will get custody of the kids? Will we have visiting rights?

[Westonboy]

Originally Posted by Banjo

Sadly I think that Sepember will only be the start of the problems. I sincerely hope that this does drive a wedge between the people of these islands - but divorces are seldom smooth or pleasant.

Sadly I think the wedges are already firmly in place. As an Englishman I lived in a Welsh speaking village in perfect harmony with the locals right up to devolution. after a couple of years of the new order, the change was palpable. With hindsight Devolution was allways going to feed separatist ambitions. Better to go our own way as friends than to stay in a loveless marriage.

[sikelsh]

Domain names, theres another one.

you will have to start using www.the75andztclub.co.sco