'Yes' vote 'means leaving pound'

Jimbuna · 02-13-14, 02:42 PM

A currency union would mean the Bank Of England would be underwriting Scottish assets as well as setting the interest rates and that is what Salmond is failing to grasp.

The Scottish banks aren't strong enough to fend for themselves on their own and the EU and other lending institutions are well aware of the fact.

The threat of refusing to take any part of the financial debt unless the pound is kept only goes to show that an independant Scotland will be no better thought of than the likes of Greece in EU circles and interest rates on borrowing would reflect the fact.

Yes, Mr Salmond has certainly painted himself into a corner this time.

02-13-14, 02:42 PM	#8
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,742 Downloads: 63 Uploads: 13	A currency union would mean the Bank Of England would be underwriting Scottish assets as well as setting the interest rates and that is what Salmond is failing to grasp. The Scottish banks aren't strong enough to fend for themselves on their own and the EU and other lending institutions are well aware of the fact. The threat of refusing to take any part of the financial debt unless the pound is kept only goes to show that an independant Scotland will be no better thought of than the likes of Greece in EU circles and interest rates on borrowing would reflect the fact. Yes, Mr Salmond has certainly painted himself into a corner this time. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!