The Bank of England governor, Mark Carney, said: "A currency union is incompatible Watch

Chindits
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with sovereignty"


You have your answer, separatists. You're not getting the rUK pound.

The idea of all this fervent nationalism and outpouring of Scottish pride, only to beg for a currency union which would mean Scotland has no control over it - is astounding.

How in hell has Salmond actually not been laughed out of Scotland by now?

It's mind blowing.
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Quady
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Carney hasn't said Scotland and the rUK couldn't have a currency union. The wording is very careful.

Although if Scotland wishes to retain full sovereignty then the Great British Pound without a currency union is a clear option.
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InnerTemple
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(Original post by Chindits)
How in hell has Salmond actually not been laughed out of Scotland by now?
I'm not sure.

The Yes campaign has managed to convince a lot of people that they can have independance and trifling matters such as currency and loss of revenue will all work themselves out.
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GHSilver
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The Scottish people can have their say by all means on Scottish independence and what the plan would be post-referendum. But what's always annoyed me either during the debates, comments made by pro-independance supporters or from the SNP themselves is the assumptions made about the rUK on all the issues that affect us too.

If Scotland becomes independent I don't want a currency union, as I don't trust the Scottish government to make the right economic choices and therefore would be a liability, costing the UK taxpayer to bail them out.

If Scotland becomes independent I want proper border controls, as we already have problems of immigration and it's clear that Scotland would want an even more open door immigration policy should it gain independence.

We have no say (and rightly so) in the question of Scottish independence, but likewise an independent Scotland has no right to demand what it wants from the rUK.

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Quady
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(Original post by GHSilver)
The Scottish people can have their say by all means on Scottish independence and what the plan would be post-referendum. But what's always annoyed me either during the debates, comments made by pro-independance supporters or from the SNP themselves is the assumptions made about the rUK on all the issues that affect us too.

If Scotland becomes independent I don't want a currency union, as I don't trust the Scottish government to make the right economic choices and therefore would be a liability, costing the UK taxpayer to bail them out.
If Scotland becomes independent I want proper border controls, as we already have problems of immigration and it's clear that Scotland would want an even more open door immigration policy should it gain independence.

We have no say (and rightly so) in the question of Scottish independence, but likewise an independent Scotland has no right to demand what it wants from the rUK.

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And they can't do that if Scotland votes no? It'll get borrowing and tax powers still.

I'm guessing you want proper boarder controls to be introduced between Eire and NI then too?
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Quady
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(Original post by InnerTemple)
I'm not sure.

The Yes campaign has managed to convince a lot of people that they can have independance and trifling matters such as currency and loss of revenue will all work themselves out.
And the No camp hasn't managed to make its case to those people. Nor political parties who are official No, but have significant splinter groups calling themselves things like '[Party Name] for Indy'.
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GHSilver
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(Original post by Quady)
And they can't do that if Scotland votes no? It'll get borrowing and tax powers still.

I'm guessing you want proper boarder controls to be introduced between Eire and NI then too?
If Scotland votes no at least they'll still be part of the same country. We receive money from the oil revenues, whisky industry, computing and finance etc. from Scotland and Scotland recieves our money from the Services and financial sector in England as well as all the other industries in the UK. Therefore there is mutual benefit in any one country in the UK supporting the economy of another. If however Scotland chooses to leaves the UK to keep the resources for itself, the rest of the UK has no obligation to support the Scottish economy. If there was a currency union and Scotland made the wrong economic choices and found itself in trouble the rUK would HAVE to bail them out, as otherwise it would affect the UK pound as a whole thus affecting business in the UK.

As for border controls, fine I'll concede that. Though it depends on Scottish immigration policy. The republic of Ireland and the UK border agencies work together and both countries have similar immigration systems. However Scotland has expressed that it wants more open border immigration. This isn't compatible with the policy of rUK and therefore if we really needed to I think we'd impose border controls

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Quady
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(Original post by GHSilver)
If Scotland votes no at least they'll still be part of the same country. We receive money from the oil revenues, whisky industry, computing and finance etc. from Scotland and Scotland recieves our money from the Services and financial sector in England as well as all the other industries in the UK. Therefore there is mutual benefit in any one country in the UK supporting the economy of another. If however Scotland chooses to leaves the UK to keep the resources for itself, the rest of the UK has no obligation to support the Scottish economy. If there was a currency union and Scotland made the wrong economic choices and found itself in trouble the rUK would HAVE to bail them out, as otherwise it would affect the UK pound as a whole thus affecting business in the UK.

As for border controls, fine I'll concede that. Though it depends on Scottish immigration policy. The republic of Ireland and the UK border agencies work together and both countries have similar immigration systems. However Scotland has expressed that it wants more open border immigration. This isn't compatible with the policy of rUK and therefore if we really needed to I think we'd impose border controls

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If Scotland is in a monetary union then how does the rest of the UK not benefit from oil/whisky exports, helping balance of payments?

What economic choices will Scotland be able to make that it won't be able to in 2017 following the transfer of powers already agreed?

Could you reference me up where it has been suggested that Scotland would want more open borders than say Ireland? Or at least how Ireland changes its immigration policy in line with the UK?
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