Orraloon Posted September 13, 2014 Share Posted September 13, 2014 And how do you think this will be perceived in the rUK, the destination for 70% of Scotland's exports (accounting for approx 25% of Scotland's GDP)? Do you think rUK customers will continue to 'buy Scottish'? Yes, why wouldn't they? Quote Link to comment Share on other sites More sharing options...
thorbotnic Posted September 13, 2014 Share Posted September 13, 2014 Yes, why wouldn't they? You think that attitudes towards Scotland will be positive in the event of Scotland refusing to take on a share of the debt? Quote Link to comment Share on other sites More sharing options...
fishcumnock Posted September 13, 2014 Share Posted September 13, 2014 Quality and price sells goods . Quote Link to comment Share on other sites More sharing options...
Khana Lagur Posted September 13, 2014 Share Posted September 13, 2014 The Uk government is guarantor to all UK debt.They are legally obliged to pay all debt no matter what Scotland does.Creditors do not care who pays them what they are owed .The same goes for investors and lenders .If Scotland walks away from their part of the debt all lenders see is a clear debt history.Everything with an obligation to pay has been cleared by the UK government. Lenders will be battering down doors to invest in Scotland If what you said before the bolded bit is true then there is no debt 'history' to see. You're overall point is valid but it's not how credit generally works, which is why Scotland will probably pay a little extra %age on borrowings at the outset. Easiest way is to honour what's apparently due and have a stronger hand when it comes to negotiating a better settlement in other areas of division of assets. Quote Link to comment Share on other sites More sharing options...
morag Posted September 13, 2014 Share Posted September 13, 2014 If what you said before the bolded bit is true then there is no debt 'history' to see. You're overall point is valid but it's not how credit generally works, which is why Scotland will probably pay a little extra %age on borrowings at the outset. Easiest way is to honour what's apparently due and have a stronger hand when it comes to negotiating a better settlement in other areas of division of assets. The pragmatic approach. Legally, Scotland will have ZERO debt. However, morally, we do. We offer to pay our share (as we always have done). How much that share actually is will be determined by how reasonable are Westminster's negotiators. The Scottish hand is strong. Quote Link to comment Share on other sites More sharing options...
Redz Posted September 13, 2014 Share Posted September 13, 2014 If Scotland doesn't make arrangements to pay a share of the debt? How do you think we'll react? And there you go ladies & gents...... Quote Link to comment Share on other sites More sharing options...
thorbotnic Posted September 13, 2014 Share Posted September 13, 2014 And there you go ladies & gents...... What's your point? Quote Link to comment Share on other sites More sharing options...
Redz Posted September 13, 2014 Share Posted September 13, 2014 What's your point? You want a YES vote, yes? The floor is yours....... Quote Link to comment Share on other sites More sharing options...
thorbotnic Posted September 13, 2014 Share Posted September 13, 2014 You want a YES vote, yes? The floor is yours....... I want a yes vote because I think it'll benefit NE England to have Scotland out of the UK. I also want the rUK to negotiate hard for the best possible post-independence deal. This includes using the tools in our inventory to ensure Scotlabd pays a fair share of the UK debt. It also means rejecting a currency union. Quote Link to comment Share on other sites More sharing options...
UPROAR Posted September 13, 2014 Share Posted September 13, 2014 http://niesr.ac.uk/publications/assets-and-liabilities-and-scottish-independence#.VBPozWOuTpw http://www.theguardian.com/politics/2014/apr/08/independent-scotland-debt-thinktank No need to worry about any debt as the SNP won't be paying it so its a bit of a red herring. Other than the brassneck and pariah status that Scotland will encounter in the eyes of the financial markets. this is idiocy but I'll forgive it as naivety. Scotland is not a nation and as a new nation has no debt. Markets do not lend on the basis of sentiment or personality, so trying to make Scotland look like an absentee father shirking his responsibility is a wee bit silly. This is not a credit history check to buy a new sofa. Markets lend based on the strength of your assets and your ability to pay. Those we have in such abundance its almost embarrassing. Remember the UK is such a basket case that its rates are going up and 10 year bond rates for countries like Ireland and Iceland are now lower than the UK - the markets trust them more than us !!! Regarding our 'share' of debt we are currently paying around £4Bn/year on debt interest on loans we did not take out and would not have needed had we been independent. This is about half of Scotland's 'overspend' each year - paying Westminster's debt interest. IMO we should only pay a share of the debt which was used to Scotlands benefit, this has been calculated and is significantly lower than population share being discussed. Quote Link to comment Share on other sites More sharing options...
Wine bibber Posted September 13, 2014 Share Posted September 13, 2014 (edited) And how do you think this will be perceived in the rUK, the destination for 70% of Scotland's exports (accounting for approx 25% of Scotland's GDP)? Do you think rUK customers will continue to 'buy Scottish'? Of course will continue to buy Scottish.Why wouldn't they ? .RUK continues to buy German goods ,French goods and Japanese goods.They even let these countries manufacture in the RUK and provide RUK workers with jobs.Yet there are people within living memory whose loved ones were killed in bombing raids and tortured in Japanese camps.How many times have i heard an Englishman say he had no time for the French... yet Camembert seems to go down rather well in Portsmouth. Don't recall us killing the English for hundreds of years.Racist attacks on Scots in London are almost unheard of.The RUK will buy the water and the power as well .And even if there is no currency union and we are refused assets i will still buy English beer and visit English historical sites... Edited September 13, 2014 by Wine bibber Quote Link to comment Share on other sites More sharing options...
Wine bibber Posted September 13, 2014 Share Posted September 13, 2014 The big point a lot of folk are missing is that the UK debt ISN'T being repaid by ANY measures. Despite all this austerity it is still increasing at a rate of about £4000 per second. Spot on .RUK will lose almost all commodities and i include the ability to feed itself and the power it needs to continue with the increasing population. Fracking as has been discussed on this board may well be a white elephant.RUk has insufficient manufacturing ability to sell its goods to bring down the debt to sufficient levels.Even with the austerity measures in place and the billions of cuts next year the debt will continue to rise.it cannot rely on financial transactions when it has little or no reserves (Gordon Brown)It cannot keep printing money.They will have to raise taxes in what is already the most taxed country in Europe. London is all smoke and mirrors and gambling with air to convince the markets they actually have something RUK must have a currency union with Scotland for its own stability.It makes sense for Scotland because of the cross border trade.A Scotland who is massively rich in commodites per head of population .I know which country i would invest in. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.