Re: Scottish Referendum : Tue Sep 09, 2014 6:40 am  

Lord God Jose Mourinho wrote: They'll keep the Queen until she asks them for money. I wonder if they could actually turn a profit on her and her Scottish estates, would be an interesting proposition when the Scottish Parliament take over the likes of Balmoral (how many properties does she "own" oop north ?), they could lease it to her for a peppercorn rent on a timeshare basis for, say, six weeks a year and then rent it out as a holiday home via a Scottish holiday web site like Unique Cottages, have a look, I can just see Balmoral in their, "Sleeps 200, not close to pub or supermarket though, lovely views" Prince Charles got involved with the purchase and renovation and marketing at Dumfries House and while the recession almost caused him to declare bankruptcy due to his personal guarantees I believe that its operating as a commercial venture now ... http://www.architecturaldigest.com/decor/2012-02/prince-charles-dumfries-house-scotland-article

Lord God Jose Mourinho wrote: They'll keep the Queen until she asks them for money. I wonder if they could actually turn a profit on her and her Scottish estates, would be an interesting proposition when the Scottish Parliament take over the likes of Balmoral (how many properties does she "own" oop north ?), they could lease it to her for a peppercorn rent on a timeshare basis for, say, six weeks a year and then rent it out as a holiday home via a Scottish holiday web site like Unique Cottages, have a look, I can just see Balmoral in their, "Sleeps 200, not close to pub or supermarket though, lovely views" Prince Charles got involved with the purchase and renovation and marketing at Dumfries House and while the recession almost caused him to declare bankruptcy due to his personal guarantees I believe that its operating as a commercial venture now ... http://www.architecturaldigest.com/decor/2012-02/prince-charles-dumfries-house-scotland-article

Re: Scottish Referendum : Tue Sep 09, 2014 7:02 am  

rumpelstiltskin wrote:

Bless. if that was the way to ease your financial problems, we could all do it. The Bank of Rumples has a nice ring to it.....a spot of nightshift on the old printer, and I'll be a millionaire come morning!

and, eerm, you might want to look into the criteria you have to meet before you can apply to join the Euro. Both Spain and Greece met it, and look how that turned out for their economies.

So it was the euro that made economies crash? Or perhaps like those who have the $ & £ is was policies & not currency itself.

Re: Scottish Referendum : Tue Sep 09, 2014 7:18 am  

Cibaman wrote:

All of them crap for either or both countries.

A currency union between Scotland and rUK would be like a euro zone comprising solely of Germany and Greece. Try selling that to the Germans

If Scotland pegs it's currency to the pound without a formal currency union it wouldn't be able to run a budget deficit of more than a couple of groats

A sterling currency union will not happen, the pound would collapse at the mention of the idea. Scotland's best option would be to join the euro, IF that could be achieved

You are comparing England to Germany? The Scots could run a budget deficit at least as high as whatever their proportion of the national debt currently is, formal union or not.

As long as they can finance it, they can run a budget deficit as large as they like.

Re: Scottish Referendum : Tue Sep 09, 2014 7:30 am  

LeagueDweeb wrote:

As long as they can finance it, they can run a budget deficit as large as they like.

And their credit history is what exactly?

Or do they expect ther BoE to stand guarantor?

Salmond has already stated that unless they can keep the £ Scotland will simply walk away from its share of the national debt. That's a great way to start out, defaulting on a debt of £Bns

I doubt even Northern Rock would be willing to lend to them.

Re: Scottish Referendum : Tue Sep 09, 2014 8:29 am  

cod'ead wrote:

Salmond has already stated that unless they can keep the £ Scotland will simply walk away from its share of the national debt. That's a great way to start out, defaulting on a debt of £Bns

I doubt even Northern Rock would be willing to lend to them.

It's not Scotland's debt, it's the UKs debt.

Salmond's saying that if the UK allows Scotland to use the pound then it will acknowledge their share of the UK debt and pledge to repay it. If England takes its bat and ball home because it's butthurt then he'll just say the UK can keep its own debts.

If the UK is going to start defaulting on its debts just because little Scotland's left it then no wonder the Scots want out.

Re: Scottish Referendum : Tue Sep 09, 2014 9:16 am  

Lord God Jose Mourinho wrote:

It's not Scotland's debt, it's the UKs debt.

Salmond's saying that if the UK allows Scotland to use the pound then it will acknowledge their share of the UK debt and pledge to repay it. If England takes its bat and ball home because it's butthurt then he'll just say the UK can keep its own debts.

If the UK is going to start defaulting on its debts just because little Scotland's left it then no wonder the Scots want out.

It IS Scotlands debt.

Have you ever had a partner, did you buy a house together, did you walk away because it suited you, did the bank just say "oh, never mind, it was a couples debt and you're not a couple anymore"

Social Joint tenants are responsible for their debts, even if they split, I can't see why countries should be any different.

Re: Scottish Referendum : Tue Sep 09, 2014 9:33 am  

Standee wrote:

It IS Scotlands debt.

Have you ever had a partner, did you buy a house together, did you walk away because it suited you, did the bank just say "oh, never mind, it was a couples debt and you're not a couple anymore"

Social Joint tenants are responsible for their debts, even if they split, I can't see why countries should be any different.

But while Scotland was a partner in running up the debt, they were also a partner in the pound. England wants to keep the pound all to itself, but it wants Scotland to cover their part of the debt.

Re: Scottish Referendum : Tue Sep 09, 2014 9:58 am  

Lord God Jose Mourinho wrote:

But while Scotland was a partner in running up the debt, they were also a partner in the pound. England wants to keep the pound all to itself, but it wants Scotland to cover their part of the debt.

because it is the ENGLISH POUND

you really are obtuse at times.

Re: Scottish Referendum : Tue Sep 09, 2014 10:15 am  

LeagueDweeb wrote:

So it was the euro that made economies crash? Or perhaps like those who have the $ & £ is was policies & not currency itself.

It was both. Because countries with the $ and £ didn't crash anywhere near as badly as some of those with the Euro. Because the US and UK can control their own monetary policy to suit their own needs.
Greece/Spain etc couldn't do that. Because the Euro monetary policy is one that has to encompass the entire Eurozone and suit Germany & France as well as Greece.
Some Euro nations suffered significantly from not being able to control their currency.
Whilst Britain, despite illogical fiscal policy, benefitted from interest rates and QE.

Re: Scottish Referendum : Tue Sep 09, 2014 10:18 am  

Standee wrote:

because it is the ENGLISH POUND

you really are obtuse at times.

That the Welsh and Northern Irish use as well.

Would you agree that the Bank of England and sterling are an asset? They clearly are. Now, as part of the United Kingdom didn't Scotland contribute to them while part of the union? You seem to be saying an absolute no, that if they are leaving the union then they leave them behind. Scotland are saying that if that's the case and their contribution to sterling is worthless well they'll let the UK cover all the debts too.

You want to keep the asset and share the debt. Scotland are merely saying that if England keeps all the asset they keep all the debts too.