bickern

Member
Scotland will have to quit the sterling if it votes for independence next year
Scotland will be forced to quit the sterling if it votes for independence next year, the Scottish secretary has warned.
Alistair Carmichael said the country could not guarantee a currency union with the UK after becoming independent.

It is the most prevalent warning yet for Scottish voters to remain in the UK in the referendum on September 18 next year.

Speaking about the possibility of keeping sterling, Mr Carmichael told The Financial Times: 'George Osborne has said ... it is highly unlikely.

'Most people in Whitehall understand that if George Osborne says something is highly unlikely, it is not going to happen.'

And when asked if he believed an independent Scotland would be excluded from the currency, he simply replied: 'Yes'.


Read more: Scottish secretary Alistair Carmichael warns: Scotland will have to quit the sterling if it votes for independence next year | Mail Online


Is Sterling that good, or should I say is the Euro that bad?
 
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TCJ

Member
Scotland will have to quit the sterling if it votes for independence next year
This is utter drivel. No country can stop another country from using its currency. Just look at Zimbabwe - it uses US$, SA Rand and half a dozen others. Most people in Whitehall think that if George Osborn says something then he doesn't know what the hell is is talking about.
 

giglets

Member
Scotland will have to quit the sterling if it votes for independence next year
Semantic crap, Norman.

Sterling is jointly owned by Scotland, N Ireland Wales and England.

Osborne does not have the power to kick Scotland out, neither does anyone else.

What will need to be negotiated is Scotland's relationship with the Bank of England.

Fear Factor, yet again - a sure sign the Pro-Union side is getting worried.
 
Scotland will have to quit the sterling if it votes for independence next year
This is utter nonsense and typical of the scare mongering by the no campaign. If they wish to help the Scottish public make an informed decision they should be contributing valuable and informative information to the on going debate and stop the cheap negativity which unfortunately has become the norm from the UK government.
 

SLEEPY

Member
Scotland will have to quit the sterling if it votes for independence next year
Absolute nonsense ..scaremongering from the Tories.
Southern Ireland gain independence from Britain in 1922 but still retained monetary union until Ireland decided to join the EMS in 1978, while the Uk did not.
The European Exchange Rate Mechanism finally broke the one-for-one link that existed between the Irish pound and the pound sterling in 1979 when the parity link between the two currencies was broken and an exchange rate was introduced.
 

lippy

Member
Scotland will have to quit the sterling if it votes for independence next year
It is all hypothetical,it won't happen,we are in the Union and that's where we will stay so Sterling will never be an issue.
Salmond has been and will be more so next week proven to be the fraud and xenophobe that he is.
BTW that is my personal opinion before his knobs gets on his high horse.
 

giglets

Member
Scotland will have to quit the sterling if it votes for independence next year
And you are perfectly entitled to it, sir.
 
Scotland will have to quit the sterling if it votes for independence next year
The Scottish parliament had a shaky start but has gained a lot of respectability under the SNP administration and Alex Salmond has been a strong leader of his party. He is an excellent debater and a well respected politician in both Scotland and other parts of the UK. He may not be everyone's cup of tea but he is without doubt a very effective leader and first minister. I wish him, the SNP and the Yes campaign all the luck with the forth coming referendum as it is about time Scotland managed its own affairs and took responsibility for its own decisions. Scotland is a beautiful country with a population that deserves and I believe desires to 100% govern itself. I just sometimes think it doesn't believe in its own ability and capability to do it. In these difficult financial times people can find it difficult to find the courage to change from what is the status quo.
 

Akasya

Postless Pointer
Scotland will have to quit the sterling if it votes for independence next year
A country that does not have it's own currency is a hostage to the interest rate policy , and exchange controls of the issuing country.

Scotland could use any currency it wished , but it would have no fiduciary latitude and would have to borrow on the open market in whatever currency it so chose.

The bank issuing the currency would sell at the price it wished , for wholesale money.

Swampy ground.

Steve.
 

giglets

Member
Scotland will have to quit the sterling if it votes for independence next year
11 out of the 20 richest countries in the OECD are in currency alliances, so it is nothing new.

The crucial thing will be the details of any agreement between an Independent Scottish Govt and The Bank of England/Treasury.

Negotiations will be everything.
 

yalimart

The Carnwath Massive
Scotland will have to quit the sterling if it votes for independence next year
Gideon has spat his dummy out again, sounds like another Tory u turn a comming

Martin
 

Sleekit

Member
Scotland will have to quit the sterling if it votes for independence next year
I for one hope Scotland do get FULL independence and then they will no longer need the UK to bankroll their spending.Personally they won't vote Yes because they know what will happen to them financially.Salmon is leading them down the garden path,the guys a Muppet,he couldn't run a bath let alone a country.
 

Jaycey

African Refugee
Top Poster Of Month
Scotland will have to quit the sterling if it votes for independence next year
…. Just look at Zimbabwe - it uses US$, SA Rand and half a dozen others.

I think Zimbabwe would love to use the USD – but where on earth would it find them? The Zim$ is the only official currency – anything else is black market.

But if you’d said Liberian dollar you would have been closer to the mark.

What is the Liberian dollar (LRD)? | GoCurrency.com
 

giglets

Member
Scotland will have to quit the sterling if it votes for independence next year
I for one hope Scotland do get FULL independence and then they will no longer need the UK to bankroll their spending.Personally they won't vote Yes because they know what will happen to them financially.Salmon is leading them down the garden path,the guys a Muppet,he couldn't run a bath let alone a country.


Usual drivel, which is getting more discredited as time goes on.

As for Muppets, I think Westminster has cornered that market.

There is absolutely no way, we in Scotland could do any worse.
 

lippy

Member
Scotland will have to quit the sterling if it votes for independence next year
The Scottish parliament had a shaky start but has gained a lot of respectability under the SNP administration and Alex Salmond has been a strong leader of his party. He is an excellent debater and a well respected politician in both Scotland and other parts of the UK. He may not be everyone's cup of tea but he is without doubt a very effective leader and first minister. I wish him, the SNP and the Yes campaign all the luck with the forth coming referendum as it is about time Scotland managed its own affairs and took responsibility for its own decisions. Scotland is a beautiful country with a population that deserves and I believe desires to 100% govern itself. I just sometimes think it doesn't believe in its own ability and capability to do it. In these difficult financial times people can find it difficult to find the courage to change from what is the status quo.
What an absolute load of hogwash,Salmond is no more or less a bully,control friek and a joke in UK politics,a reject from main stream politics. He has bribed and threatened Scotland,whose people have been too gullable and short sighted to see his zenaphobic nature and voted him into power.
All very well for those ex pats who love the heather,tartan and the bag pipes when they are thousands of miles away and their love of Scotland is expressed and dare I say sung about many times when they are far far away.
Having spoken to many on the ground,yes Scottish ground,the yes vote has a lesser chance of winning than Partick Thistle have of winning the Champions league.
 
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giglets

Member
Scotland will have to quit the sterling if it votes for independence next year
Condescending crap.

As a Scot, I find your assessment of it's people both stupid and insulting.

Your assessment of Salmond is about the same.

Whether the Yes Vote will win the day, or not, will be decided by the Scots themselves and I am very content that they will make the right choice.

At present, there is a gap of between 5 and 20% (depending on what poll you read) between the camps, with the No's in front.
There are also 10 months to go and I think the gap will close considerably before then.

As I have said many times, it is all to play for and the real contest is just about to start.
 

lippy

Member
Scotland will have to quit the sterling if it votes for independence next year
Time will tell but I will be here to see the No camp succeed unlike you who will be far away singing about your wee hills and glens and crying into your Efes.
 

giglets

Member
Scotland will have to quit the sterling if it votes for independence next year
You have absolutely no idea where I will be 10 months from now.
 

lippy

Member
Scotland will have to quit the sterling if it votes for independence next year
Hopefully not Scotland son.
 

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