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Scottish Architecture Forum Architecture, Design and Urban Development for for Glasgow, Edinburgh, Aberdeen, Dundee, and the rest of Scotland.



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Old Yesterday, 10:01 PM   #5941
DaeguDuke
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Quote:
Originally Posted by bestbud;116141845
No it isn't. The idea that people should "[I
get what they want, when they want it on their terms because they want it[/I]" is comparable to the spoiled, badly brought up 5 year old. It is not "Scotland's pound" therefore it is not Scotland's decision to make unless they want to use it unilaterally (which would be suicidal).
You seem to be quoting Westminster. "It is England's pound, always has been and we will keep it". Scotland gets zero say.

The Scottish government has shown that it is in the best interests of both parties for a currency union, which even the BOE governor has said is completely possible, and that it would be subject to negotiations. Saying it would be subject to negotiations is not the same as demanding it on our terms, or saying that England can't use it.

It is obvious which side sounds like a spoilt 5yo.

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Originally Posted by battlefieldjohn View Post
I would not suggest for a moment that Scotland should have no say, but if one part of the union wishes to leave and can choose to stay or leave the currency union, surely the remainder of the union can have the same say?
Yes, and nobody was suggesting that the residents in the rest of the UK should have no say i.e. a referendum. However it has already been decided that Scotland should have no say.

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Originally Posted by battlefieldjohn View Post
How can you have currency union without political union? One of the partners could wreck the currency but only one part can leave?
You can have a political agreement, with set borrowing limits, financial regulation etc etc. The Euro gets a lot of bad press, but is still alive and going strong despite the huge differences between the 18 members and 3 unofficial users. A Scottish-rUK currency union would work a lot better than the Euro does for a number of economic reasons. The UK already has a semi-formal currency union with several dependencies/overseas territories. The Rand is used by 4 countries. A few countries in west Africa use the same currency. There are about 4 or 5 regional blocs planning currency unions to rival the Euro. Currency unions are not a new thing, and has been normal thing for a good hundred years or more, they are completely possible with formal agreements.

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Originally Posted by battlefieldjohn View Post
I do hope England gets a parliament after the vote and gets to make the same choices. If the YES votes win or you get devo max, the North East of England will lose out big time.
No devo-max. That would have lead to federalism, and created a government for England most likely outside of London where it could improve things in the midlands/north. But its not an option open to us. Already nixed. It is Yes, or maybe some powers sometime depending on who wins the next UK election (which won't be decided by Scotland anyway).
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Old Yesterday, 10:07 PM   #5942
DaeguDuke
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Quote:
Originally Posted by battlefieldjohn View Post
How can you have currency union without political union? One of the partners could wreck the currency but only one part can leave?
A better answer to your question is to quote the 10 criteria that the West African Franc (which has been used for a currency union for about 70 years) and is planned to expand from the current 8 countries to about 15.
Quote:
The four Primary Criteria to be achieved by each member country are:

A single-digit inflation rate at the end of each year
A fiscal deficit of no more than 4% of the GDP
A central bank deficit-financing of no more than 10% of the previous year’s tax revenues
Gross external reserves that can give import cover for a minimum of three months.
The six Secondary Criteria to be achieved by each member country are:

Prohibition of new domestic default payments and liquidation of existing ones.
Tax revenue should be equal to or greater than 20 percent of the GDP.
Wage bill to tax revenue equal to or less than 35 percent.
Public investment to tax revenue equal to or greater than 20 percent.
A stable real exchange rate.
A positive real interest rate.
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Old Yesterday, 10:47 PM   #5943
bestbud
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Quote:
Originally Posted by DaeguDuke View Post
You seem to be quoting Westminster. "It is England's pound, always has been and we will keep it". Scotland gets zero say.

The Scottish government has shown that it is in the best interests of both parties for a currency union, which even the BOE governor has said is completely possible, and that it would be subject to negotiations. Saying it would be subject to negotiations is not the same as demanding it on our terms, or saying that England can't use it.

It is obvious which side sounds like a spoilt 5yo.
Enough of the nonsense.

The Scottish Government have asserted that it is "in everyone's best interest". There is considerable expert opinion on the subject which is completely and utterly at odds with what the Scottish Government say.

I have never said "it's England's pound" or anything remotely similar. It is the UK's pound and always will be. If we leave the UK, we leave the pound. Plain and simple. Once again, I am misrepresented by a nationalist.

Whether parties want to discuss a currency union is a different matter. It is technically possible but Scotland cannot determine whether it happens or not. And that is the point our friend asked about.
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Old Yesterday, 11:35 PM   #5944
JohnnyFive
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Quote:
Originally Posted by battlefieldjohn View Post
Does the yes campaign believe Scotland should have the choice to keep or leave the British £ should it wish to?

FWIW I am in the process of moving to Scotland and were I a Scot I would probably wish to leave the union. As a Brit I wish Scotland to remain in the union.
It is not a requirement to be within the political union of the United Kingdom to use the £ sterling or be 'a Brit'.

Isle of man, for example, is not within the UK but uses £ Sterling within a currency union with Westminster.

The £ is as much Scotland's as England's or eslewhere.

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Old Yesterday, 11:44 PM   #5945
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