Should an independent Kingdom of Scotland be allowed to share the Pound Sterling?

[-:Undertaker:-]

Should an independent Kingdom of Scotland be allowed to share the Pound Sterling?


http://www.jugomoneymatters.com/wp-content/uploads/2013/07/UK-British-Pound-sterling.jpg

In recent weeks, a row has broken out over Scottish independence - with the British Government making it clear that in the event of a yes vote for Scottish independence this September, a Sterling Zone (similar to the Eurozone) would not be permitted and that Scotland would be forced to drop the Pound Sterling as it's currency or be forced to adopt it informally. The reason for this is the fear that with two seperate budgets, the former United Kingdom would face a Eurozone style crisis if the remaining United Kingdom or Kingdom of Scotland happened to get into financial trouble.

Alex Salmond and the Scottish National Party (SNP) on the other hand claim that the Pound Sterling does not exclusively belong to the United Kingdom and that it would be up to Scotland whether to adopt the Pound Sterling or not. Salmond and the SNP have also made the case that the British Government would want to keep Scotland within the Pound Sterling to retain it as a major trading/reserve currency across the world.

But what do you think? Do you think that once Scotland becomes independent it forfeits its right to use the Pound Sterling? Do you think that risking a Eurozone style crisis should be ruled out by the British Government in the event of Scottish independence?


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The debate is open to you.

[scottish]

It's scaremongering tactics to get a No vote

If we vote yes (let's hope not) then we'll most likely be getting GBP.

[dbgtz]

The best way I've seen this described is


"We want independence from the UK because we don't get fair recognition and most of the focus is on the City of London"

"In order to ensure stability we will be tieing ourselves to the City of London"


So basically, I am not in favour of a "sterling zone".

[GommeInc]

No. They want total independence. By keeping the pound they would be relying on the Bank of England. A monetary union only works with political union, hence why the Eurozone in trouble. Either they stay part of the UK and keep the pound or become independent and adopt the Euro or have their own currency. They can't pick and choose, while claiming independence.

[Americanozz]

If they want independence then they can get their own money too.

[Mr-Trainor]

My opinion on whether I want them to share the £ with us or not; no, definitely not! A currency union has many economic disadvantages. If the political party in power in Westminster decided to share with them though, then I guess it'd happen whether we like it or not. I remember hearing that the main 3 parties have said no though, so I'm glad tbh :P.

[-:Undertaker:-]

I remember hearing that the main 3 parties have said no though, so I'm glad tbh :P.

The fact they've said no makes me believe they'd actually go along with a currency union. :P

Most of them were stupid enough to advocate joining the Euro after all, they'd be stupid enough to do something like this too.

[LiquidLuck.]

I believe that if Scotland wants total independence, than sharing the currency would be out of the question, and I understand why both countries would be in favor of this.

If Scotland wants true independence, they need to do it economically as well. If they keep the current currency, this would not happen because:
- its interest rates would be set by the Bank of England;
- its economic policies would be strictly controlled by England;
- in the case of an economic crises, Scotland would be helped by the rest of the UK.

The world has seen what sharing a currency between multiple countries can do, and it's not good with different European countries falling apart like Greece and Portugal. If Scotland kept the current currency then out-of-control spending in one country would affect the economy in both of them, destabilizing the currency that is doing so well compared to others around the world.

Now, joining the Euro in my opinion is totally out of the question because we all know how bad that is going. I don't even know who had the not so brilliant idea to suggest such thing, but whoever did it should leave their politic or economic career and start reading world wide news. Although, if Scotland wants to join the European Union, joining the euro is usually a must, so they would need to figure out how they are going to play with their future as I'm not sure the European Communion would admit a country with an unstable economic future, and as the president already said, the Scottish membership would be "extremely difficult, if not impossible".

So I'm guessing the only real solution here would be to create its own currency, which is not also a great idea but since no world organisations want an independent Scotland to be a part of them, I guess they would have to find a way to solve their problems themselves.

Just a final paragraph to push strongly the idea of how the Scottish independence is such a bad decision.. Also if Scotland does become independent I will have to find a new country to go get my degree in, because I do want the possibility of having a job when I finish university. Coming to Scotland for a British degree was the only reason I left Portugal as it looks so much better than a Portuguese one, but I doubt someone would want me with a Scottish degree... So being now able to vote in Scotland, my vote will obviously be against this.

Here is a useful link for this debate:

http://www.scotsman.com/news/politics/top-stories/scottish-independence-currency-options-laid-out-1-3337090

[Southe,]

Just a final paragraph to push strongly the idea of how the Scottish independence is such a bad decision.. Also if Scotland does become independent I will have to find a new country to go get my degree in, because I do want the possibility of having a job when I finish university. Coming to Scotland for a British degree was the only reason I left Portugal as it looks so much better than a Portuguese one, but I doubt someone would want me with a Scottish degree... So being now able to vote in Scotland, my vote will obviously be against this.


Don't know how angry that statement has made me. So if Scotland gets it's rightful Independence, it's education will then become obsolete?

Edit: Grr my response to the topic got deleted when i quoted =/ can't be arse to rewrite it so bluntly.

Yes will win, When that happens watch the UK Government try and make deals, all this no you cant use it is scaremongering.
Well i agree Scotland should have it's own currency and i take on board what people have said in here having the same currency so people can still freely use and travel around this island would benefit a lot of people. Also they will want us to pay for some of the UK debt so i can see them making some sort of arrangement.

[LiquidLuck.]

Don't know how angry that statement has made me. So if Scotland gets it's rightful Independence, it's education will then become obsolete?

Edit: Grr my response to the topic got deleted when i quoted =/ can't be arse to rewrite it so bluntly.

Yes will win, When that happens watch the UK Government try and make deals, all this no you cant use it is scaremongering.
Well i agree Scotland should have it's own currency and i take on board what people have said in here having the same currency so people can still freely use and travel around this island would benefit a lot of people. Also they will want us to pay for some of the UK debt so i can see them making some sort of arrangement.

Yes basically. A British degree at the moment will open me many doors due to the English education. If Scotland becomes independent, firstly I can forget about getting a job in elsewhere in the UK, and not many countries would accept a degree from a new country..

If you want to add more reasons to why independent Scotland would screw over my education, lets talk about the EU anti-discrimination laws. That is the only reason why I don't have to pay for university. Now if Scotland becomes independent it will not be part of the EU so who knows if they will make me pay for university and if it's as much as in England, **** that I'm going back to Portugal where you pay one quarter of that!

[Chippiewill]

Perhaps we should troll the Scots, let them have the pound and join the eurozone.

[Southe,]

Yes basically. A British degree at the moment will open me many doors due to the English education. If Scotland becomes independent, firstly I can forget about getting a job in elsewhere in the UK, and not many countries would accept a degree from a new country..

If you want to add more reasons to why independent Scotland would screw over my education, lets talk about the EU anti-discrimination laws. That is the only reason why I don't have to pay for university. Now if Scotland becomes independent it will not be part of the EU so who knows if they will make me pay for university and if it's as much as in England, **** that I'm going back to Portugal where you pay one quarter of that!

A Scottish degree will still mean and be worth what it is even if Scotland decides to go independent. Also it does come across as slightly selfish that people of Scotland have waited decades for this vote and your just worrying about a job in the UK. So your plan is to eventually leave Scotland to get a job in England?

UK might not even be in the EU in a few years if that vote goes ahead. Also Scotland will still be part of EU if it votes for Independence, don't listen to all the lies and scaremongering.

[LiquidLuck.]

A Scottish degree will still mean and be worth what it is even if Scotland decides to go independent. Also it does come across as slightly selfish that people of Scotland have waited decades for this vote and your just worrying about a job in the UK. So your plan is to eventually leave Scotland to get a job in England?

UK might not even be in the EU in a few years if that vote goes ahead. Also Scotland will still be part of EU if it votes for Independence, don't listen to all the lies and scaremongering.

Of course I am worrying about a job in the UK, you would be too if you didn't know how one decision would affect your whole future. And I don't know what my plan is but yes, England is a very probable choice.

Also the president of the EU (a Portuguese guy btw) has said it will not. So if people are actually thinking they are just talking and won't actually get ahead with it, believe me you are wrong. Scotland will NOT be part of the EU if it gets independence.

- - - Updated - - -

The EU would never want a fragile country like independent Scotland will be to be a part of their community. If we are already in deep economic trouble as it is, imagine a new country to agitate the waters. They would put us in even deeper trouble.

[Lewis]

I honestly don't know. I'm Scottish and, personally, I want independence more than I don't - but I honestly don't know all the goods/bads of getting independence or not, so I can't give an actual true opinion on that. It'd definitely be simpler if we kept the pound.

[Southe,]

Of course I am worrying about a job in the UK, you would be too if you didn't know how one decision would affect your whole future. And I don't know what my plan is but yes, England is a very probable choice.
What your saying is, your essentially coming to Scotland to get free university tuition, to then leave the country that taught you to most likely go down south to get a job. Now while doing this a momentous vote is to take place which the people of Scotland have waited decades for and your voting no because it will effect you getting a job out of the country. Also to say your Scottish degree wouldn't be worth as much as a British one is a slap in the face to the University and the people who teach you. By all means come and study but if your plan is to leave then in my opinion you shouldn't be getting a vote for Scotland's Future if you don't plan on being a part of it.

Also the president of the EU (a Portuguese guy btw) has said it will not. So if people are actually thinking they are just talking and won't actually get ahead with it, believe me you are wrong. Scotland will NOT be part of the EU if it gets independence.

- - - Updated - - -

The EU would never want a fragile country like independent Scotland will be to be a part of their community.
If we are already in deep economic trouble as it is, imagine a new country to agitate the waters. They would put us in even deeper trouble.
Once again scaremongering, so what happens to all the EU resident's currently living in the Scotland? So we're being thrown out of the EU because we wanted to take charge of our own country?

Some reading material.
http://wingsoverscotland.com/scots-would-remain-eu-citizens/#more-25561

The facts and information is out there, you shouldn't listen to all the lies and scaremongering Project Fear spouts.




I honestly don't know. I'm Scottish and, personally, I want independence more than I don't - but I honestly don't know all the goods/bads of getting independence or not, so I can't give an actual true opinion on that. It'd definitely be simpler if we kept the pound.

http://wingsoverscotland.com/ Good site should give it a wee read at some point.

Edited by Sianness (Forum Moderator): Please contribute more to a debate, this is counted as a pointless post!

[LiquidLuck.]

Southe,; okay first of all, before posting add some commas to what you write because ffs had to read it 3 times.

Second of course I should get a say, I live here so it makes sense I can help decide the future of the country I live in. Plus I am way more objective than many people in this country that only care about being independent because of the whole Scotland vs. England confront and the whole ''I'm NOT British, I'm Scottish!'' thing. And after analyzing everything, even if leaving my education out of it, voting yes is a bad choice.

Also are you serious about saying how people shouldn't go to study to a country and when they are done leave that country? Because that is one of the stupidest things I've heard and goes against what EVERY SINGLE LECTURER tells you. My course is made so you can go abroad and get a job there so that when you finish the four years that place will offer you a permanent job. ABROAD!

To resume and not using any ad hominem fallacy, you need to think twice before you post and see if what you are saying makes sense, because it really doesn't. Also why would you believe a Scottish politics site over what the only person that actually that can actually talk with certainties?! To back up what I'm writing you will be glad to know I have read the articles I could find about Scotland and the EU, and NONE says it's going to join the EU. So since you gave me some reading material, here is yours:

http://www.bbc.co.uk/news/uk-scotland-scotland-politics-26215963

I would advise you to see that interview and then tell me again that what the President of the EU himself is saying is a lie. That will give me a proper laugh.

[Chippiewill]

If Scotland becomes independent, firstly I can forget about getting a job in elsewhere in the UK, and not many countries would accept a degree from a new country..

Scottish Universities don't suddenly become worse because they're not part of the UK. It's not going to be like the day before a referendum people are thinking "Those Scottish degrees are pretty decent" and then the day after a yes vote "Man those Scottish degrees .became really **** all of a sudden".

[LiquidLuck.]

Scottish Universities don't suddenly become worse because they're not part of the UK. It's not going to be like the day before a referendum people are thinking "Those Scottish degrees are pretty decent" and then the day after a yes vote "Man those Scottish degrees .became really **** all of a sudden".

Not saying it's gonna happen over night obviously but it will be a major factor if you're hiring someone with a Scottish degree in 2017 when I finish my degree and Scotland properly becomes independent.

[Chippiewill]

No, no it won't. If I'm an employer in the UK then I'm FAR more bothered about which university it is than the fact it's a Scottish one.

[Southe,]

@Southe, (http://www.habboxforum.com/member.php?u=44727); okay first of all, before posting add some commas to what you write because ffs had to read it 3 times.
I could read it easily, sorry that I'm busy all day working, and trying to post on here using a phone. I'll try harder for you in future.

Second of course I should get a say, I live here so it makes sense I can help decide the future of the country I live in.
Currently, You've already stated that theres a probable choice that you will move down south to get a job. So you wouldn't be a part of this country's future.
Plus I am way more objective than many people in this country that only care about being independent because of the whole Scotland vs. England confront and the whole ''I'm NOT British, I'm Scottish!'' thing.
I have yet to meet anyone who's sole purpose in voting Yes is because they hate England, or because of the Scotland v England. People just want to be able to call themselves Scottish, and have a Scottish Passport. It's only a small reason when compared to the bigger picture.
And after analyzing everything, even if leaving my education out of it, voting yes is a bad choice.
If you believe all the nonsense Project Fear and the Biased BBC spout, but alright.

Also are you serious about saying how people shouldn't go to study to a country and when they are done leave that country? Because that is one of the stupidest things I've heard and goes against what EVERY SINGLE LECTURER tells you.
Maybe i should have made myself more clear, I have no objection to people coming over here to study, and then leave abroad for work. I do however have an objection to people getting the vote for a country they plan on leaving once they get there qualifications. As i have said before this vote is something people have been waiting decades for and can change this country, and the lives of the people who live in it. If your not planning to be part of this country's future then, in my opinion (and many who I've mentioned this to) believe you shouldn't be allowed to vote.
My course is made so you can go abroad and get a job there so that when you finish the four years that place will offer you a permanent job. ABROAD!
See Above.

To resume and not using any ad hominem fallacy, you need to think twice before you post and see if what you are saying makes sense, because it really doesn't.
Once again, when I'm busy working all day to pay my mortgage, bills and taxes. If i happen to post one comment without the use of proper punctuation, tough.

Also why would you believe a Scottish politics site over what the only person that actually that can actually talk with certainties?!
Because its site's like that where i get my news from, not just for independence but for all news, as the main news is always biased, twisted or don't even cover the news.
Because its just more scaremongering.

To back up what I'm writing you will be glad to know I have read the articles I could find about Scotland and the EU, and NONE says it's going to join the EU. So since you gave me some reading material, here is yours:

http://www.bbc.co.uk/news/uk-scotland-scotland-politics-26215963
BBC are biased (http://wingsoverscotland.com/watch-closely-students/), so you'll excuse me if i don't look to much into what you posted.

"extremely difficult, if not impossible"
So Scotland vote yes, Scotland gets booted out of the EU, They lose all the resources Scotland brings to the EU and Scotland boots all the EU foreigners out of the country. Can't see any of that happening.

"He said it was important that "accession to the European Union will have to be approved by all other member states of the European Union.""
Why would anyone Veto us in joining? when everyone is all in support of the Ukraine.
David Cameron
"that all of us in this House should be supporting the Ukrainian desire to be a sovereign, independent country and to have the respect of the international community and party leaders for that ambition."
So why can't Scotland have that Respect?

I would advise you to see that interview and then tell me again that what the President of the EU himself is saying is a lie. That will give me a proper laugh.
OK, Yes will win, Scotland will Keep the pound, And we won't be removed from the EU. Let's agree to disagree. Quote me on this and if none of this happens I'll gladly accept the ridicule.

I don't claim to be the smartest guy out there, i just wished there was more Yes voters on this board so it wasn't just me most of the time speaking out for support.





Not saying it's gonna happen over night obviously but it will be a major factor if you're hiring someone with a Scottish degree in 2017 when I finish my degree and Scotland properly becomes independent.
Nonsense.


Scottish Universities don't suddenly become worse because they're not part of the UK. It's not going to be like the day before a referendum people are thinking "Those Scottish degrees are pretty decent" and then the day after a yes vote "Man those Scottish degrees .became really **** all of a sudden".

No, no it won't. If I'm an employer in the UK then I'm FAR more bothered about which university it is than the fact it's a Scottish one.

Exactly.

Edited by Sianness (Forum Moderator): Please contribute more to a debate, this is counted as a pointless post!

[Southe,]

https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-prn1/t1.0-9/10313359_632088540199769_6748727047123860742_n.jpg

Edited by Sianness (Forum Moderator): Please contribute more to a debate, this is counted as a pointless post!

[dbgtz]

https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-prn1/t1.0-9/10313359_632088540199769_6748727047123860742_n.jpg

[email protected]

yep what a trustworthy source.

[Southe,]

[email protected]
yep what a trustworthy source.

other places have reported it as well, just this was the one that came on my FB feed.
Yes you my say this site is biased as well but anyway.
http://wingsoverscotland.com/watch-closely-students/

there is a large bias when it comes to the news in reporting the Yes side of things.

See only my posts getting modded =/

[dbgtz]

other places have reported it as well, just this was the one that came on my FB feed.
Yes you my say this site is biased as well but anyway.
http://wingsoverscotland.com/watch-closely-students/

there is a large bias when it comes to the news in reporting the Yes side of things.

See only my posts getting modded =/

That was super frustrating to read but OK.

I'm not sure how essentially complimenting the Yes movement is biased at all, but it's not exactly uncommon for anyone to refer to the "main man" for anything. For example, I'm looking at the Inception box art right now and it says "A film by Christopher Nolan". It doesn't even refer to anyone else after that. A more political example can be seen when it was Clegg vs Farage in EU debates, not "pro EU vs eurosceptic". Salmond is basically at the heart of the whole Yes campaign and the BBC didn't use the "…with the No campaign being criticised by supporters for a lacklustre performance compared to the fiery campaigning of Scotland’s First Minister Alex Salmond” phrase as part of some hidden agenda.

In fact I'm not wasting my time arguing this anymore. The points raised in that article are so stupid they're literally picking at everything to help their own agenda so yes they are bias. At least the BBC presents both sides of the argument regardless of if you like or dislike how it's presented. You probably follow this site and believe everything it says.