The Mudcat Café TM
Thread #153423   Message #3596501
Posted By: Stu
29-Jan-14 - 09:39 AM
Thread Name: BS: 25 Reasons to love Scotland
Subject: RE: BS: 25 Reasons to love Scotland
I've been listening to Mark Carney talking about monetary union between the rest of the UK and Scotland should the Scots vote for independence. All the usual bean counter fluff, but it raises an interesting point.

Surely Scotland can only have true independence by having it's own currency? If Salmond has his way Scotland will still have to kowtow to the Bank of England (bound to induce the howling fantods in those north of the border who hate any association with England) and which, due to the nature of a common currency might mean Scotland will have less control over it's economy in some situations than it would like, for example if it needed to devalue it might not be able to because the interests of other countries need to be taken in account (ask the Greeks how that feels).

This would of course lead to cries of "foul!" amongst those who believe they might be being oppressed once more by the "auld enemy", but who willingly signed up to the arrangement.

Would Scotland not be better off biting the bullet and establishing their own currency from the outset? This would give Scotland true autonomy and cement it's status as an independent nation.

Also, there would need to be a cross-border agreement to stop Scottish managers working in the Premier League as it seems they have been sent down to bugger up the English national team (as my Mum is Welsh meaning the good half of me is, I support Wales in the rugby so don't give a stuff about that).