Scottish Independence Vote 18. September
 

Been lots of discussion of this and the (alleged) bullying and threats from Westminster [url=http://www.nakedcapitalism.com/2014/09/links-9914.html]over at the NC daily links pages[/url].

Especially for our UK readership - Thoughts? Predictions?

Perhaps the rest of the UK should declare independence from Scotland instead of the other way around. Then Scotland would automatically remain in the European Union while the rest of the UK would automatically have left it - everyone would be happy! :wink:

We should get rid of the whinging bastards. Good riddance to them I say. The Jocks only joined the union because their country was bankrupt, having completely screwed up their attempt to build an empire. We've been bailing them out ever since.

Their mothers were hamsters and their fathers smelled of elderberries.

I just think it ridiculous that they are going to vote before sorting things out like which currency they will use.
Maybe a vote to enable them to complete plans(or not) and then another to for people to say they approve the plans.

I agree with henryzz. I was watching the BBC Midlands news this morning on the hotel and I was thinking why for the independence? New currency is a must....probably it will value less than £. Probably the wages will come down, economy will get worst.

I have been wondering what Scotland's major exports and imports are, and what the balance between them is. Does it own a piece of the North Sea oil action?

EDIT:
[QUOTE]Perhaps the rest of the UK should declare independence from Scotland instead of the other way around[/QUOTE]

Heh! Good suggestion! :)

[QUOTE=kladner;382683]what Scotland's major exports [/QUOTE]
Arrr... [URL="http://en.wikipedia.org/wiki/Duncan_MacLeod"]immortality[/URL]?

.

If they keep using Sterling (on any formula) then London still decides what interest rates should be and how big a budget deficit they can run. Which isn't worth calling independence.

If they adopt the Euro they replace rule by London with rule by Frankfurt.

If they adopt their own currency then it will probably be weaker than the Pound (it will at least vary in value against the Pound). Which badly hurts companies trading across the new border. It would force most of the financial sector to move south of the border (because most of their customers are there).And anyone with a mortgage would probably find it needs to be repaid in Sterling.

Chris

I wrote this letter to the editor to a Scottish newspaper yesterday:

[B]Interdependence[/B]

The referendum in Scotland is being closely watched by the people of The Netherlands. We try to grasp the debate from our own position. The Dutch are all too aware of the size of their nation of 16 million people compared with the size of Germany, France and the UK. Our diplomats have to work hard and effectively to have our viewpoints heard in Europe. There is a clear realisation in our country that no nation can be truly independent nowadays. All nations in Europe, including the big three, are heavily interdependent, mutually dependent on each other.

The degree of this interdependency has increased a lot in the last century due to higher transportation efficiencies and other factors, and will continue to increase further in the foreseeable future. A country cannot declare independence and then assume that it is. A nation or region can only accommodate its level of interdependence and so maximize its influence. Our diplomats have learned that Dutch interests are best served not by going to Brussels directly, but by first going to London, to plead our case, then to Berlin (sometimes first) and then perhaps to Paris. If necessary we team up with other small countries. Only then do we take our case to Brussels. A strong UK is therefore considered to be in the Dutch national interest.

We believe that if the Scots declare independence they will soon figure out that the best way for them to foster their interests is by operating in a similar way. We can understand that some people in Scotland feel their interests are diluted in London before being presented in Brussels, but we envy the Scottish influence on the much larger English nation.

Likewise we look with some amazement at Norway and Switzerland. They implement nearly every law and regulation passed in Brussels in order to avoid practical anomalies. They just give up their right to vote in Brussels in return for a right to be heard there and for the illusion that they are less part of a strongly interdependent continent.

[QUOTE=chris2be8;382698]If they keep using Sterling (on any formula) then London still decides what interest rates should be and how big a budget deficit they can run.[/quote]

Ecuador uses the US dollar; but Ecuadorian interest rates are around 8% and US interest rates around 1%, and the size of the Ecuadorian budget deficit is defined only by the amount that the bond market is willing to lend a country that defaulted in 2009.