So After Different Dependence Scotland Will Still Be Dependedent On England?

[ToraToraTora]

http://www.bbc.co.uk/news/uk-scotland-scotland-politics-44237957
Or they are going to create their own McPoond? how is that going to work? Why would Wee Jimmy not simply join the Euro? Oh hang on they'd not be in the EU!

[Zacs-Master]

Your making the fundamental mistake of trying to apply logic to The wee fishy one's thinking.

There ain't any.

[youngmafbog]

This is yet another example of people who dont seem to realize that things like this are for negotiation and that a negotiation means both sides have to agree.

I really dont know where she is going with all this, it really doen't make economic sense at all but she was voted in by the Scots so I assume they see something in it and her.

[Togo]

How very "convenient" for wee Burney to announce that an independent Scotland "will keep the £ sterling for 10 years. What if the Bank Of England says...…….err no I don't think so. If you are not a member of the UK you cannot use the pound to run the country, we cannot allow you to devalue the pound with a basket case economy or take out loans against our currency.

[murraymints]

Nicola does NOT speak for Scotland in this matter , Nicola is speaking for Nicola, as is her wont....Scotland has already voted no to separation !!

[jno]

the Channel Islands use the pound

[Zacs-Master]

I think you'll find the economics of the Channel Islands to be slightly different to Scotland, even with its NS Oil.

[New Judge]

There is nothing too stop any country using Sterling Pounds to provide their citizens with the means to do their weekly shop at Tesco. Many countries do so with the US Dollar. They don't need permission from the US treasury and nor would Scotland need it from the Bank of England. What they do need is the wherewithal to buy their pounds.

At present vast lorryloads of English taxpayers' dosh are shipped up the M6 every night to satisfy the requirements of the "Barnett Formula" (a temporary arrangement introduced in 1979) which gives the Scots each year close on £2,000 per head more in public spending money than the English. Presumably this will stop upon Scottish Independence and that's where Mrs Murrell's problems may begin to be laid bare.

[gulliver1]

And how many people living in England , have got Bank accounts that are controlled by the Royal Bank of Scotland .

[Togo]

You just know that Gull is confusing RBS with Bank of Scotland don't you. :))

[gulliver1]

You just know that Togo is talking his usual LOB, don't you

[mushroom25]

//And how many people living in England , have got Bank accounts that are controlled by the Royal Bank of Scotland . //

probably more than you think. the Royal Bank of Scotland subsidiaries include NatWest and Coutts. The Bank of Scotland (not to be confused with the Royal Bank of Scotland) is part of the Lloyds Banking Group.

[Togo]

Can either of those "banks" issue banknotes?

[Neveracrossword]

Togo, yes - they both do, as does the Clydesdale Bank.

[Togo]

So Scotland can have 3 different "banknotes"? Why would they want to keep £ Sterling ?

[Neveracrossword]

I don't understand your latest post. There are more than three banknotes. I have no idea whether they (whoever 'they' are) would want to keep £ sterling.

[Togo]

The Scots NeveraX. Why would they not determine to adopt the Euro?
As judge points out they could propose to make the Euro their currency of choice surely, if they can of course raise the capitol to purchase it. Juncker will pay for whisky for sure. Although we could do without a drunker Juncker.

[New Judge]

"So Scotland can have 3 different "banknotes"? Why would they want to keep £ Sterling ?"

The position with banknotes issued by the three Scottish banks authorised to do so is not all it seems. The banks are allowed to issue them only on the condition that they keep in their vaults an equivalent value of Bank of England (BoE) notes. Holders of the Scottish banknotes are entitled to have them exchanged for BoE notes on demand should they wish. The notes are not "Legal Tender" anywhere in the UK (including Scotland). Curiously, BoE banknotes are not Legal Tender in Scotland. The only Legal Tender in Scotland are the coins issued by the Royal Mint.

There is more to an independent currency than simply printing banknotes.

[youngmafbog]

Of course currency is never just printing notes.

If you have nothing to back them up (e.g. gold or another currency) your notes become worthless.

Shame some twit sold off our gold reserves for Euros.

[ABerrant]

"And how many people living in England , have got Bank accounts that are controlled by the Royal Bank of Scotland ."

I don't understand the significance of the question; the majority shareholder of RBS is HM Government, currently owning 70.33% of total voting rights.

[ToraToraTora]

they can use the poond by all means but like those unstable banana republics that use the Dollar, they'll have no control over it. Hence the title of this post, they will be at the mercy of UK economic policy. I thought they wanted "independence".