H_B Posted February 11, 2014 Share Posted February 11, 2014 I can read fine. The idea that the MPC/BoE actually does take the whole of the UK into account when making interest rate decisions (for example) is laughable at best, it is only through formal representation that you can force these institutions into taking your own needs into account, So, this solitary representative post Independence - can you explain how they are going to "force" our needs to be taken into account? Link to comment Share on other sites More sharing options...
renton Posted February 11, 2014 Share Posted February 11, 2014 So, this solitary representative post Independence - can you explain how they are going to "force" our needs to be taken into account? Force is the wrong word: At the very least however, our deliberations would be taken into account, in a way that simply does not happen just now. Right now, we have no say, no authority or influence over what the BoE decides to do, even if that doesn't change post independence, we still lose nothing, at best we get formal represnetation and some input into how interest rates are set. Link to comment Share on other sites More sharing options...
H_B Posted February 11, 2014 Share Posted February 11, 2014 Right now, we have no say, no authority or influence over what the BoE decides to do, Well, only if you believe that nowhere in the UK has any authority or influence over what the BoE decides to do, which surely isn't the case. I don't see how this post-Independence situation is going to be of any value at all. If anyone thinks that the BoE post-Independence will alter anything because the Scottish delegate says "actually, that wouldn't be great for us" they are quite deluded. Link to comment Share on other sites More sharing options...
renton Posted February 11, 2014 Share Posted February 11, 2014 Well, only if you believe that nowhere in the UK has any authority or influence over what the BoE decides to do, which surely isn't the case. I don't see how this post-Independence situation is going to be of any value at all. If anyone thinks that the BoE post-Independence will alter anything because the Scottish delegate says "actually, that wouldn't be great for us" they are quite deluded. Well no, the BoE runs for the benefit of the South east/London, it's where economic activity is centred, it's where the City of London and the bnaking industry is centred, it is for these people that the BoE/MPC, pretty much the entire Westminster machinery operates. Perhaps scottish delegations post indy would not make a difference, but again it's a lose nothing situation - we have no sovereignty over interest rates now. A seperate currency would give us that, but then I do see advantages in at least a short term currency Union. Link to comment Share on other sites More sharing options...
yoda Posted February 11, 2014 Share Posted February 11, 2014 I'm not going to read through the entire thread but has anyone highlighted Darling's recent comments (in an interview with GQ magazine)? I would never argue that you couldn't go it alone. If Scotland were to become independent, what would worry me is that 20 per cent of all tax revenues in Scotland come from North Sea oil. It's not going to run out tomorrow morning, but it's finite. As a small country, you are more vulnerable especially if you've got too many eggs in one basket. Link to comment Share on other sites More sharing options...
Colkitto Posted February 11, 2014 Share Posted February 11, 2014 Rumour that Osborne will rule out a formal currency union with indy Scotland in a speech in Edinburgh on Thursday. Huge moment in the referendum debate if he does, as it has implications for both the rUK and indy Scotland. A potential grenade will shortly be thrown into the referendum debate! Link to comment Share on other sites More sharing options...
ayrmad Posted February 11, 2014 Share Posted February 11, 2014 Rumour that Osborne will rule out a formal currency union with indy Scotland in a speech in Edinburgh on Thursday. Huge moment in the referendum debate if he does, as it has implications for both the rUK and indy Scotland. A potential grenade will shortly be thrown into the referendum debate! It will certainly liven it up a wee bit, it won't change much but I can feel the vicky rising within myself. Link to comment Share on other sites More sharing options...
Michael W Posted February 11, 2014 Share Posted February 11, 2014 It's fairly predictable how that'll pan out - gloating from the no side and the yes side up in arms about scaremongering. The reality is that it doesn't matter what Osbourne says because his term as chancellor comes to an end when any negotiations will be ongoing and the Conservatives are currently on course to lose. His position reflects that of the current government and that won't necessarily be the same view a successive government will take. Basically, there is little of substance to be gained from this. Still, he's saying it in Edinburgh so presumably that makes it all ok. Link to comment Share on other sites More sharing options...
caleyjaggi Posted February 11, 2014 Share Posted February 11, 2014 So will we choose trillions of debt or zero? It's a tough one for me. Link to comment Share on other sites More sharing options...
Todders Posted February 12, 2014 Share Posted February 12, 2014 I'm sure the bond markets will be delighted at the prospect of the rUK losing a huge chunk of its (already poor) balance of payments and trillions of pounds of assets. Without a currency union rUK is just making it even more difficult for them to meet their previous debt guarantees. Link to comment Share on other sites More sharing options...
Davi3j Posted February 12, 2014 Share Posted February 12, 2014 It's fairly predictable how that'll pan out - gloating from the no side and the yes side up in arms about scaremongering. The reality is that it doesn't matter what Osbourne says because his term as chancellor comes to an end when any negotiations will be ongoing and the Conservatives are currently on course to lose. His position reflects that of the current government and that won't necessarily be the same view a successive government will take. Basically, there is little of substance to be gained from this. Still, he's saying it in Edinburgh so presumably that makes it all ok. Are you sure about that? Who are they going to lose to, because the Labour vote is disappearing pretty quickly. http://labour-uncut.co.uk/2014/02/11/latest-yougov-figures-show-over-1-in-4-2010-labour-voters-have-defected-tories-have-higher-core-vote/ Link to comment Share on other sites More sharing options...
ayrmad Posted February 12, 2014 Share Posted February 12, 2014 Ladbrokes: it's 50/1 that Scotland adopts a new currency by 1st Jan 2016. Link to comment Share on other sites More sharing options...
barrysnotter Posted February 12, 2014 Share Posted February 12, 2014 Wouldn't mind being a fly on the wall of the SNP bunker tonight. Link to comment Share on other sites More sharing options...
ayrmad Posted February 12, 2014 Share Posted February 12, 2014 Wouldn't mind being a fly on the wall of the SNP bunker tonight. I'm quite sure this scenario has been visited many times by them. It's quite mystifying why NO keep showing their cards, it's 7 months away ffs. Link to comment Share on other sites More sharing options...
barrysnotter Posted February 12, 2014 Share Posted February 12, 2014 I'm quite sure this scenario has been visited many times by them. It's quite mystifying why NO keep showing their cards, it's 7 months away ffs. Because they aren't morally corrupt, maybe. This isn't a game of cards. Link to comment Share on other sites More sharing options...
Davi3j Posted February 12, 2014 Share Posted February 12, 2014 So how does Osborne intend to tie the hands of a future government during negotiations, as these will carry on past the next GE? Answer: he cant. This is just more waffle from the No camp, trying to muddy the water again. It will be a definite, absolute, unconditional possibility that we wont have a currency union. Link to comment Share on other sites More sharing options...
ayrmad Posted February 12, 2014 Share Posted February 12, 2014 Because they aren't morally corrupt, maybe. This isn't a game of cards. Are you expecting to be taken seriously? Link to comment Share on other sites More sharing options...
Davi3j Posted February 12, 2014 Share Posted February 12, 2014 Because they aren't morally corrupt, maybe. This isn't a game of cards. just intellectually corrupt then? Link to comment Share on other sites More sharing options...
barrysnotter Posted February 12, 2014 Share Posted February 12, 2014 So how does Osborne intend to tie the hands of a future government during negotiations, as these will carry on past the next GE? Answer: he cant. This is just more waffle from the No camp, trying to muddy the water again. It will be a definite, absolute, unconditional possibility that we wont have a currency union. Read the story and work it out. Unless you think UKIP will be in power next term? Link to comment Share on other sites More sharing options...
Father Ted Posted February 12, 2014 Share Posted February 12, 2014 So will we choose trillions of debt or zero? It's a tough one for me. Exactly. If Osbourne makes that announcement, he will look a bigger fool than he already is, and thats going some. My opinion is short term currency union, followed by establishing our own currency. Currently if we got independent, currency union suits both, and we all know it, this scaremongering from Westminster, is cringeworthy, and an insult to our intelligence. Link to comment Share on other sites More sharing options...
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