Auchinyell Sox Change Posted September 9, 2014 Share Posted September 9, 2014 been reading a lot today about the future of the pound ; currency issues etc Mark Cairneys comments / RBS & Lloyds hinting at a move etc this may all very well be scare tactics / propaganda by pro - Unionist ; and i don't honestly claim to understand the implications of the financial world- but this particular topic seems to be the biggest hurdle for indepedence to overcome czechs & slovaks used the same currency for few years after break up , but then split tbh was reading mostly stuff like the telegraph & guardian online Quote Link to comment Share on other sites More sharing options...
Ally Bongo Posted September 9, 2014 Share Posted September 9, 2014 It is definitely a strange intervention which no doubt he has had to make from Westminster pressure This now puts him in the same corner as Gideon and leaves them no room for manouver in the event of a Yes vote which they obviously hope wont happen by putting the final big scare in. It is certainly an appealling prospect for many in the Yes camp who are uncomfortable with a currency union but the big question is will it scare people enough or are we past that stage I am almost certain, although i dare say Mr Stiglitz will disagree unless he is in on it, that the currency union proposal is to get as many Yes votes as possible and not that the Yes campaign really and truly want it. Despite most of the media still going on about the pound falling and shares dropping yesterday and totally ignoring them going back up today what they seem to be forgetting is that the UK economy is trillions in debt and with North Sea Oil/Gas & Whisky revenues etc being removed from the UK's balance of payments is going to have a drastic effect on normal everyday people in England with the effect that will have on interest rates What an Indy Scotland must then do is use the period between the 19th & March 2016 is to get a central bank into operation which, by all accounts, will not be that difficult for an oil rich country starting off with zero debt But i guess it's over to Joseph Stiglitz now ..... Quote Link to comment Share on other sites More sharing options...
AberdeenAngus Posted September 9, 2014 Share Posted September 9, 2014 Sky reported it as Scotland won't get to use the pound. Another blatant misrepresentation of the facts. Quote Link to comment Share on other sites More sharing options...
Ally Bongo Posted September 9, 2014 Share Posted September 9, 2014 Lets party http://www.independent.co.uk/voices/comment/why-an-independent-scotland-could-become-the-richest-country-on-earth-9096120.html Quote Link to comment Share on other sites More sharing options...
Ally Bongo Posted September 9, 2014 Share Posted September 9, 2014 And to be fair to Carney he is not in the same corner as Gideon His get out is that he said "in the context of Westminster intransigence" Quote Link to comment Share on other sites More sharing options...
Hertsscot Posted September 9, 2014 Share Posted September 9, 2014 Sky reported it as Scotland won't get to use the pound.Another blatant misrepresentation of the facts. I could have sworn that the leader of the No campaign had rather publicly and rather recently said Scotland could use any currency it wanted. Quote Link to comment Share on other sites More sharing options...
exile Posted September 9, 2014 Share Posted September 9, 2014 Carney said currency union 'incompatible with sovereignty' This doesn't say it wouldn't happen Quote Link to comment Share on other sites More sharing options...
thorbotnic Posted September 9, 2014 Share Posted September 9, 2014 Carney said currency union 'incompatible with sovereignty' This doesn't say it wouldn't happen It's not up to him to say whether it'd happen or not. It's pretty clear that that will ultimately be a political, not economic, decision (hence why he mentioned sovereignty). And that's why it's not going to happen. Quote Link to comment Share on other sites More sharing options...
thorbotnic Posted September 9, 2014 Share Posted September 9, 2014 It is definitely a strange intervention which no doubt he has had to make from Westminster pressure This now puts him in the same corner as Gideon and leaves them no room for manouver in the event of a Yes vote which they obviously hope wont happen by putting the final big scare in. It is certainly an appealling prospect for many in the Yes camp who are uncomfortable with a currency union but the big question is will it scare people enough or are we past that stage I am almost certain, although i dare say Mr Stiglitz will disagree unless he is in on it, that the currency union proposal is to get as many Yes votes as possible and not that the Yes campaign really and truly want it. Despite most of the media still going on about the pound falling and shares dropping yesterday and totally ignoring them going back up today what they seem to be forgetting is that the UK economy is trillions in debt and with North Sea Oil/Gas & Whisky revenues etc being removed from the UK's balance of payments is going to have a drastic effect on normal everyday people in England with the effect that will have on interest rates What an Indy Scotland must then do is use the period between the 19th & March 2016 is to get a central bank into operation which, by all accounts, will not be that difficult for an oil rich country starting off with zero debt But i guess it's over to Joseph Stiglitz now ..... Would you agree that the currency union chat is a tactic from Yes, which they're actually looking to drop as soon as the Yes vote is in? "Well, we wanted a CU but it's not happening, we'll float our own currency instead. What a shame." Quote Link to comment Share on other sites More sharing options...
Thpinth Posted September 10, 2014 Share Posted September 10, 2014 (edited) czechs & slovaks used the same currency for few years after break up , but then splitThe Czech and Slovak Koruna union lasted a matter of weeks because the markets spotted an inherent weakness, lack of full committal, and exploited it. Edited September 10, 2014 by Thpinth Quote Link to comment Share on other sites More sharing options...
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