Scottish Independence
Sep 9th 2014, 12:03 pm
#137
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Re: Scottish Independence
OPEN YOUR EARS......
If Scotland votes for independence, it will create a completely different economic context for the two new countries that emerge. This new macroeconomic framework will work against the currently declared goals of both countries' governments.
The economy of an independent Scotland would of course be much smaller than the economy of the new UK. This means that with the same absolute oil extraction, you can estimate that the sector would contribute more than one-third of Scotland’s GDP.
In the new smaller UK, on the other hand, it would only contribute something like 1% (coming from the mainly gas fields off east England).
Source New Statesman | The best currency for an independent Scotland would be Norway’s kronor
Read the compete article and the following
Scottish independence: a guide to the big decision | Politics | The Observer
Then you may start to understand the debate rather than react in a nonsensical debate - twaddle ....
If Scotland votes for independence, it will create a completely different economic context for the two new countries that emerge. This new macroeconomic framework will work against the currently declared goals of both countries' governments.
The economy of an independent Scotland would of course be much smaller than the economy of the new UK. This means that with the same absolute oil extraction, you can estimate that the sector would contribute more than one-third of Scotland’s GDP.
In the new smaller UK, on the other hand, it would only contribute something like 1% (coming from the mainly gas fields off east England).
Source New Statesman | The best currency for an independent Scotland would be Norway’s kronor
Read the compete article and the following
Scottish independence: a guide to the big decision | Politics | The Observer
Then you may start to understand the debate rather than react in a nonsensical debate - twaddle ....
Sep 9th 2014, 12:12 pm
#138
Dunroaming back in UK
Joined: Mar 2012
Location: Expat in Yorkshire now
Posts: 11,307
Re: Scottish Independence
OPEN YOUR EARS......
If Scotland votes for independence, it will create a completely different economic context for the two new countries that emerge. This new macroeconomic framework will work against the currently declared goals of both countries' governments. Wake up and smell the coffee - it will not
The economy of an independent Scotland would of course be much smaller than the economy of the new UK. This means that with the same absolute oil extraction, you can estimate that the sector would contribute more than one-third of Scotland’s GDP. closer to one 8th but you are right in principle
In the new smaller UK, on the other hand, it would only contribute something like 1% (coming from the mainly gas fields off east England).yes but the UK economy is based on services and finacial services not oil and gas - how can you not understand that?
Source New Statesman | The best currency for an independent Scotland would be Norway’s kronorcould be a good idea but I can't see Norway agreeing to currency union with Scotland why would they lumber themselves?
Read the compete article and the following
Scottish independence: a guide to the big decision | Politics | The Observer
Then you may start to understand the debate rather than react in a nonsensical debate - twaddle ...you are making things up and everyone is laughing at your ridiculous assertions - if you had said the whole truth i.e. "most economists recognized by the YES campaign as supporting their argument agree that...." you wiould have been writing the truth rather than your twadle.
If Scotland votes for independence, it will create a completely different economic context for the two new countries that emerge. This new macroeconomic framework will work against the currently declared goals of both countries' governments. Wake up and smell the coffee - it will not
The economy of an independent Scotland would of course be much smaller than the economy of the new UK. This means that with the same absolute oil extraction, you can estimate that the sector would contribute more than one-third of Scotland’s GDP. closer to one 8th but you are right in principle
In the new smaller UK, on the other hand, it would only contribute something like 1% (coming from the mainly gas fields off east England).yes but the UK economy is based on services and finacial services not oil and gas - how can you not understand that?
Source New Statesman | The best currency for an independent Scotland would be Norway’s kronorcould be a good idea but I can't see Norway agreeing to currency union with Scotland why would they lumber themselves?
Read the compete article and the following
Scottish independence: a guide to the big decision | Politics | The Observer
Then you may start to understand the debate rather than react in a nonsensical debate - twaddle ...you are making things up and everyone is laughing at your ridiculous assertions - if you had said the whole truth i.e. "most economists recognized by the YES campaign as supporting their argument agree that...." you wiould have been writing the truth rather than your twadle.
The current uncertainty is a problem as it is spooking the markets - roll on the vote and then normality will return in UK whatever the outcome!
Last edited by Garbatellamike; Sep 9th 2014 at 12:14 pm.
Sep 9th 2014, 12:27 pm
#139
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Re: Scottish Independence
I don't see why 8% of the people and 2% of the economy leaving the UK and trying to go it alone is a substantial problem.
The current uncertainty is a problem as it is spooking the markets - roll on the vote and then normality will return in UK whatever the outcome!
The current uncertainty is a problem as it is spooking the markets - roll on the vote and then normality will return in UK whatever the outcome!
Kathleen Brooks, research director at FOREX.com, predicts that the pound could be in for a rough ride, whether the yes campaign are victorious or not.
She says:
The market’s insecurities and concerns for an independent Scotland means that the pound would be in the firing line if the yes campaign wins, however the pound could also be under pressure if the no vote win, but only by a small margin.
Here’s Kathleen’s takeaways:
The markets are in panic mode, and starting to contemplate the prospect of a win for the yes vote.
Even if the no campaign wins, we expect it to be by a very slim margin.
Based on what happened in Quebec in the 1990’s, even a win for the no campaign could have negative repercussions for some Scottish companies and may not be that good for sterling in the medium-term.
We think that the outlook for GBP, especially versus the USD, looks bleak over the next 10 days to the referendum.
In GBP/USD $1.5722 is key support leading up to 18th Sept.
UK stocks are also likely to remain under pressure in the lead up to polling day. The financial sector is particularly under pressure.
Even a win for the no campaign could hurt Scottish companies if it triggers capital and deposit flight.
Talking about currencies, Valentin Marinov of Citi Global Markets warns that investors should be “cautious” on the pound ahead of the referendum. “There is clear risk of further downside correction,” he says.
Sep 9th 2014, 12:30 pm
#140
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Joined: Dec 2005
Posts: 88,040
Re: Scottish Independence
Chicken Licken...the sky is falling in....
Sep 9th 2014, 12:46 pm
#141
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Joined: Sep 2013
Posts: 395
Re: Scottish Independence
No, I am not a Scot either. I am a believer in that the break up of the UK will be the best thing for every part of the Union.
Do you think that SNP will stop if they lose. It is the beginning of the end either way.
When SNP win, there will be a run on the pound. Traders will sell off next week if the polls stay the same into SFR or Gold.
Economists have stated that 8bn of oil revenues estimated will immediately create 80bn of income in the first year for Scotland (Scotland will amortise the income over 10 years but that the income in year 1), outside of all other income streams (tourism/fishing/whisky) and this is more than that of Ireland has received even with the Irish banks bailout.
So for the NO campaign to suggest that Scotland will be suffering is total nonsense after a YES victory.
In fact, 6 myn population not adding to the income streams of HM Treasury and no acceptance of UK debt (1.4tn) and no Oil revenues and the movement of Nuclear Subs south (more expense)... the UK will suffer the most not scotland in the short term.
Most recognised economists, believe Scotland can become a new Norway and renewable energy producer to England.
I am glad that people are now waking up to the impact and debating.
Do you think that SNP will stop if they lose. It is the beginning of the end either way.
When SNP win, there will be a run on the pound. Traders will sell off next week if the polls stay the same into SFR or Gold.
Economists have stated that 8bn of oil revenues estimated will immediately create 80bn of income in the first year for Scotland (Scotland will amortise the income over 10 years but that the income in year 1), outside of all other income streams (tourism/fishing/whisky) and this is more than that of Ireland has received even with the Irish banks bailout.
So for the NO campaign to suggest that Scotland will be suffering is total nonsense after a YES victory.
In fact, 6 myn population not adding to the income streams of HM Treasury and no acceptance of UK debt (1.4tn) and no Oil revenues and the movement of Nuclear Subs south (more expense)... the UK will suffer the most not scotland in the short term.
Most recognised economists, believe Scotland can become a new Norway and renewable energy producer to England.
I am glad that people are now waking up to the impact and debating.
Sep 9th 2014, 5:14 pm
#142
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Joined: Jun 2010
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Re: Scottish Independence
Well, sorry folks, but am totally unable to get hot under the collar on the issue. If the 'yes' vote wins, will my reasonably priced, EU approved, McVitie's chocolate digestives disappear?
bye bye dicette l'inglese
bye bye dicette l'inglese
Sep 9th 2014, 5:16 pm
#143
Dunroaming back in UK
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Sep 9th 2014, 5:21 pm
#144
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Re: Scottish Independence
What international phone code will I have to use to speak to my Scottish family? 😁
Sep 9th 2014, 6:10 pm
#145
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Re: Scottish Independence
Scotland cannot default on any debt it does not own in its own name. SIMPLE and this debt is not in any scottish law.
Scotland also has is own law and is not liable for any debt especially if it becomes a sovereign nation.
Wake up to the fact, that England/Wales and NI will be solely responsible for 1.4tn of debt. Not Scotland.
Sep 9th 2014, 6:32 pm
#146
Dunroaming back in UK
Joined: Mar 2012
Location: Expat in Yorkshire now
Posts: 11,307
Re: Scottish Independence
Firstly, the Debt of all UK debt is owned in the name of the Bank of England. It is in the name .... as England as always thought they controlled the Union.
Scotland cannot default on any debt it does not own in its own name. SIMPLE and this debt is not in any scottish law.
Scotland also has is own law and is not liable for any debt especially if it becomes a sovereign nation.
Wake up to the fact, that England/Wales and NI will be solely responsible for 1.4tn of debt. Not Scotland.
Scotland cannot default on any debt it does not own in its own name. SIMPLE and this debt is not in any scottish law.
Scotland also has is own law and is not liable for any debt especially if it becomes a sovereign nation.
Wake up to the fact, that England/Wales and NI will be solely responsible for 1.4tn of debt. Not Scotland.
nice one, I actually broke a rib
Sep 9th 2014, 7:44 pm
#147
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Re: Scottish Independence
One major issue is the UK's debt and how it would be shared. "Because it's not possible technically to transfer that [share of the] debt to Scotland, the UK would ultimately remain liable for the debt "
Monique Ebell, research fellow at the UK's National Institute of Economic and Social Research (NIESR), told DW.de
http://en.wikipedia.org/wiki/National_Institute_of_Economic_and_Social_Research
This is the true statement.
Hence why SNP has been saying no access to BoE Funding and the Pound, then Scotland will not pay any debt.
Hence, why England/NI/Wales will be left with the pound and 1.4tn of debt after independence and why tomorrow Westminister is going to Scotland !!
Maybe it is time to make some time to read the debate.
Monique Ebell, research fellow at the UK's National Institute of Economic and Social Research (NIESR), told DW.de
http://en.wikipedia.org/wiki/National_Institute_of_Economic_and_Social_Research
This is the true statement.
Hence why SNP has been saying no access to BoE Funding and the Pound, then Scotland will not pay any debt.
Hence, why England/NI/Wales will be left with the pound and 1.4tn of debt after independence and why tomorrow Westminister is going to Scotland !!
Maybe it is time to make some time to read the debate.
Sep 9th 2014, 8:10 pm
#148
Dunroaming back in UK
Joined: Mar 2012
Location: Expat in Yorkshire now
Posts: 11,307
Re: Scottish Independence
One major issue is the UK's debt and how it would be shared. "Because it's not possible technically to transfer that [share of the] debt to Scotland, the UK would ultimately remain liable for the debt "
Monique Ebell, research fellow at the UK's National Institute of Economic and Social Research (NIESR), told DW.de
National Institute of Economic and Social Research - Wikipedia, the free encyclopedia
This is the true statement.
Hence why SNP has been saying no access to BoE Funding and the Pound, then Scotland will not pay any debt.
Hence, why England/NI/Wales will be left with the pound and 1.4tn of debt after independence and why tomorrow Westminister is going to Scotland !!
Maybe it is time to make some time to read the debate.
Monique Ebell, research fellow at the UK's National Institute of Economic and Social Research (NIESR), told DW.de
National Institute of Economic and Social Research - Wikipedia, the free encyclopedia
This is the true statement.
Hence why SNP has been saying no access to BoE Funding and the Pound, then Scotland will not pay any debt.
Hence, why England/NI/Wales will be left with the pound and 1.4tn of debt after independence and why tomorrow Westminister is going to Scotland !!
Maybe it is time to make some time to read the debate.
keep going this is hilarious
Sep 9th 2014, 8:35 pm
#149
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Re: Scottish Independence
Absolute rubbish , transferring debt is something banks are great at !
Sep 9th 2014, 9:06 pm
#150
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