Scottish Independence

[D-Type]

Good point Jon Brow. But we don't really know how the regular non-voters will vote. Have they previously not voted out of disillusionment with Westminster or because they are generally happy with the status quo and feel that whichever part is voted in makes very little difference to them?

[Starter]

If the vote is in the affirmative, you guys are going to have fun over the next few years sorting everything out.

[Rollo]

So the Scots will end up 'independent' with the Pound as their currency with interest rates set by the Bank of England.......

Or else they'll establish the Pound Scots, which would initially be tariffed at 1:1 with the Pound Sterling and in effect create one of the hardest currencies in Europe.

A few countries around the world have their currencies pegged to the US dollar and a few more are pegged to the Euro. Belarus even pegs its Ruble to a basket which includes the US Dollar, the Euro and the Russian Ruble.

I don't think that Scottish currency is as troublesome as what is being made out. Australia and New Zealand both survived quite happily for the best part of a century, with their Pounds and Dollars pegged against Sterling and then the Greenback.

[Brown, Jon Brow]

If the vote is in the affirmative, you guys are going to have fun over the next few years sorting everything out.

Well most of the issues will be for Scotland to solve. But it seems the nationalists are deluding people that they can keep the pound, leave the debt, control their own fiscal policy, take all the North Sea oil and be prosperous even when all the Scottish banks move to London.

The only major issue for the rest of the UK is redesigning the Union Flag and finding an arrangement for our military assets in Scotland.

[Starter]

The only major issue for the rest of the UK is redesigning the Union Flag and finding an arrangement for our military assets in Scotland.

In terms of your nuclear naval base there, think "Guantanamo".

[Gregor-y]

Or else they'll establish the Pound Scots, which would initially be tariffed at 1:1 with the Pound Sterling and in effect create one of the hardest currencies in Europe.

I thought the Pound Scots was only worth about a shilling if I remember Kidnapped correctly.

[Rollo]

I thought the Pound Scots was only worth about a shilling if I remember Kidnapped correctly.

Good remembering... close ^_^

In 1707 the rate of exchange when the Pound Scots was replaced with the Pound Sterling was 12:1.
The Scottish Shilling would have been worth an English Penny but the Pound Scots would have been worth 20 pence or 1/8 (1s 8d.)

That was 1707. The tariff rate for a new Pound Scots would be 1:1 initially.

[Rollo]

Re RBS:
I hope you leave Scotland...

If you do that, you'll lose your charter to print currency because only the Bank of England can issue currency in Pounds Sterling under the Banking Act 2009. If you relocate to England, oh great and powerful RBS, you'll lose that right immediately and technically all of that currency in Scotland which you've printed is unbackable.
I seriously hope that this causes a run on you RBS as you'll be forced to buy back all that currency.

Do it. Blow yourself up.
That way, the UK Government can sue the pants off you and whilst we're at it, throw the entire board in gaol for negligence.
How's that for a Banker's Bonus? Being an inmate at Her Majesty's pleasure.

[Brown, Jon Brow]

So the polls are closed!!!

And a whole nation (one nation for now) holds it breath. We all could go to bed as British and wake up as citizens or the Former United Kingdom, or FUK for short.

[odykas]

Exits Poll: No 54% - Yes 46%