Gabriel said:If the Scots do vote for independence, what happens if it leaves and takes no acceptance of its share of current UK debt? Does that debt then have to be spread across the people of England, Northern Ireland , and Wales?
BigJimLittleJim said:Gabriel said:If the Scots do vote for independence, what happens if it leaves and takes no acceptance of its share of current UK debt? Does that debt then have to be spread across the people of England, Northern Ireland , and Wales?
think I saw something on a previous Question Time or similar where this came up, and the answer was they can't just cut and run without their share of the debt, so no need to panic :)
pee dubya said:This is why it's so difficult to make a reasoned choice, we really have no idea what will happen. Everyone has a different viewpoint and opinion on the potential outcome.
In his speech Osbourne was asked since he's now clarified the official position on the £, would they soon be doing the same on a number of other issues (BBC, Trident etc). He just came out with a vague stock answer that in the event of a Yes vote they'll be discussed, then somehow worked his way back to the £ thing despite the question having nothing to do with it.
The currency issue is the weak spot they've identified and targeted, the route to putting doubt in voters minds.
The other options are pretty clear though, do you think they haven't considered them at all? I'd be hugely surprised. Clearly a currency union is their favoured choice, so all this bullshit is jostling for position. Of course i'd be extraordinarily worried if they didn't have a back-up plan, but i can't imagine they don't.without a dream said:pee dubya said:This is why it's so difficult to make a reasoned choice, we really have no idea what will happen. Everyone has a different viewpoint and opinion on the potential outcome.
In his speech Osbourne was asked since he's now clarified the official position on the £, would they soon be doing the same on a number of other issues (BBC, Trident etc). He just came out with a vague stock answer that in the event of a Yes vote they'll be discussed, then somehow worked his way back to the £ thing despite the question having nothing to do with it.
The currency issue is the weak spot they've identified and targeted, the route to putting doubt in voters minds.
It's the most important issue though, the rest is chicken feed.
If we have a common currency then the rest of the UK would be underwriting the Scottish economy because we couldn't afford for it to fail. It would also mean that the respective parties would have to sign off on each others budgets (like they do in the Eurozone) and that never tends to go very well for the smaller economies. That doesn't seem like a lot of independence to me and it's obvious why the rest of the UK doesn't want that to happen.
The SNP are yet to provide an alternative to joining the pound should they get what they want. They're just stirring up national pride with accusations of bullying. If that doesn't worry you about the capabilities of what would presumably be the leadership of the new country then it really, really should.
pee dubya said:The other options are pretty clear though, do you think they haven't considered them at all? I'd be hugely surprised. Clearly a currency union is their favoured choice, so all this bullshit is jostling for position. Of course i'd be extraordinarily worried if they didn't have a back-up plan, but i can't imagine they don't.without a dream said:pee dubya said:This is why it's so difficult to make a reasoned choice, we really have no idea what will happen. Everyone has a different viewpoint and opinion on the potential outcome.
In his speech Osbourne was asked since he's now clarified the official position on the £, would they soon be doing the same on a number of other issues (BBC, Trident etc). He just came out with a vague stock answer that in the event of a Yes vote they'll be discussed, then somehow worked his way back to the £ thing despite the question having nothing to do with it.
The currency issue is the weak spot they've identified and targeted, the route to putting doubt in voters minds.
It's the most important issue though, the rest is chicken feed.
If we have a common currency then the rest of the UK would be underwriting the Scottish economy because we couldn't afford for it to fail. It would also mean that the respective parties would have to sign off on each others budgets (like they do in the Eurozone) and that never tends to go very well for the smaller economies. That doesn't seem like a lot of independence to me and it's obvious why the rest of the UK doesn't want that to happen.
The SNP are yet to provide an alternative to joining the pound should they get what they want. They're just stirring up national pride with accusations of bullying. If that doesn't worry you about the capabilities of what would presumably be the leadership of the new country then it really, really should.
I have no idea, perhaps because it's a less daunting prospect for undecideds. Perhaps they don't really want the pound anyway. Might be a good excuse not to take on the debt.without a dream said:pee dubya said:The other options are pretty clear though, do you think they haven't considered them at all? I'd be hugely surprised. Clearly a currency union is their favoured choice, so all this bullshit is jostling for position. Of course i'd be extraordinarily worried if they didn't have a back-up plan, but i can't imagine they don't.without a dream said:It's the most important issue though, the rest is chicken feed.
If we have a common currency then the rest of the UK would be underwriting the Scottish economy because we couldn't afford for it to fail. It would also mean that the respective parties would have to sign off on each others budgets (like they do in the Eurozone) and that never tends to go very well for the smaller economies. That doesn't seem like a lot of independence to me and it's obvious why the rest of the UK doesn't want that to happen.
The SNP are yet to provide an alternative to joining the pound should they get what they want. They're just stirring up national pride with accusations of bullying. If that doesn't worry you about the capabilities of what would presumably be the leadership of the new country then it really, really should.
I don't understand why it's their preferred choice though. If they choose a currency union (and the rest of the UK for some bizarre reason accepts that we have to underwrite the Scottish economy should it fail) then the UK has to agree the Scottish budget, is that anyone's idea of independence? Is that being freed from Westminster?
Balti said:So an independent Scotland tries to insist that taxpayers in a nation it has just voted to leave have to continue to back the currency of this new foreign country and consider the welfare of this foreign country when setting interest rates etc. Also to insure the banks of this foreign country and to insure the foreign government if it needs support with its public spending etc.
Yeah right, fuck off. You are free to leave but not to impose terms on those that you are choosing to leave.
Walk away from UK and walk away from UK currency/ banking system. Good luck with that.