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Nicola Sturegon says second referendum is closer for Scotland Watch

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    (Original post by Quady)
    The euro has been pretty successful from what I can see, much stronger than stirling than when it was launched.
    The success of a currency is not judged by its relative strength in the markets. That would mean it changes all the time. All currencies rise and fall to reflect the markets' judgement on economies.

    A currency's strength lies in its ability to mitigate risk to its country's economy, and to make adjustments that benefit as much of the economy as possible. There is no doubt that the euro can not balance the benefits across all the eurozone, and this is demonstrated by the north v south problems, caused by economies that are not in sync (and in Greece's case, not on Planet Earth). The currency is being asked to do too much across too disparate an area.

    The eurozone is still just one step away from another crisis.

    Sterling's strength is that it covers a very homogeneous area, with a much better balanced area of coverage, as well as far more unified control.

    Perhaps the independent Scots could adopt Stirling as a currency. The major unit, the wallace, would be composed of one hundred bruces, and the currency could form a bridge between the pound and the euro.
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    (Original post by L i b)
    The EU is undoubtedly a looser union, which of course accounts for the fact that in any senses it is essentially dysfunctional. In relation to the unreformable nature of the UK constitution, I give you devolution, the Human Rights Act, the creation of the Supreme Court, fixed-term parliaments, a referendum on electoral reform and the Constitutional Reform and Governance Act.
    All of which took place within the context of the Europeanisation of the UK from our joining the EEC onwards. Devolution especially is an example of the unravelling of a formerly imperial state-nation, showing a willingness on the part of its political class to hand power down at the same time as ceding part of its sovereignty in the name of European integration. The Human Rights Act in particular is just an example of a UK-specific implemention of European-wide norms.
 
 
 
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