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IWETHEY Home / IWETHEY Board / Politics Forum / A thoughtful analysis of the post referendum negotiation process
Post #394,543
by pwhysall
Picture of pwhysall
9/13/14 7:00:25 AM
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New A thoughtful analysis of the post referendum negotiation process
Post #394,547
by Another Scott
9/13/14 8:41:39 AM
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New Very good. Thanks.
He brings up a lot of good points. However, he emphasizes the risks to the rUK in having Scotland continue to use the Pound. Krugman pointed out the risks in using the Pound on the Scots side:

But Canada has its own currency, which means that its government can’t run out of money, that it can bail out its own banks if necessary, and more. An independent Scotland wouldn’t. And that makes a huge difference.

Could Scotland have its own currency? Maybe, although Scotland’s economy is even more tightly integrated with that of the rest of Britain than Canada’s is with the United States, so that trying to maintain a separate currency would be hard. It’s a moot point, however: The Scottish independence movement has been very clear that it intends to keep the pound as the national currency. And the combination of political independence with a shared currency is a recipe for disaster. Which is where the cautionary tale of Spain comes in.


I've got no special insight on what is likely to happen. The press coverage has made the "No!" side seem ham-handed (the banks crying they'll move south, the last-minute "Please don't leave me!" tour by the politicians, the supposedly "moronic" decision not to have "devomax" as a choice on the ballot, etc.). But the Scots I know over here are almost pathologically level-headed on financial matters. I suspect that No will win, but the anger at Whitehall won't go away without substantial changes.

FWIW.

Thanks again.

Cheers,
Scott.
     hey peter, what's your take on this? - (crazy) - (25) - Sept. 10, 2014, 04:25:26 PM EDT
         As usual, it's all about the oil. - (a6l6e6x) - Sept. 10, 2014, 11:07:22 PM EDT
         Let 'em go - (pwhysall) - (17) - Sept. 11, 2014, 03:29:09 AM EDT
             Wouldn't worry too much about a Belgian veto - (scoenye) - Sept. 11, 2014, 07:46:52 AM EDT
             If it's a YES, RBS has already announced it will move to London. - (a6l6e6x) - (6) - Sept. 11, 2014, 11:53:39 AM EDT
                 Joke from a few days ago. - (Another Scott) - (5) - Sept. 11, 2014, 12:24:05 PM EDT
                     Engwalni, smelly feet in puhktun -NT - (boxley) - (1) - Sept. 11, 2014, 12:43:20 PM EDT
                         rofl. -NT - (Another Scott) - Sept. 11, 2014, 12:51:18 PM EDT
                     The UK will remain the UK - (pwhysall) - (2) - Sept. 11, 2014, 01:45:28 PM EDT
                         Is it? - (static) - (1) - Sept. 11, 2014, 11:23:41 PM EDT
                             No, you're right - (pwhysall) - Sept. 12, 2014, 01:39:09 AM EDT
             Thanks - (malraux) - (2) - Sept. 12, 2014, 07:47:28 AM EDT
                 I hope you advised him - (pwhysall) - (1) - Sept. 12, 2014, 08:17:59 AM EDT
                     Read aloud, edited for newsworthiness. -NT - (malraux) - Sept. 12, 2014, 09:06:33 AM EDT
             How do you feel about s/Scotland/Stateland/? - (mmoffitt) - (2) - Sept. 12, 2014, 01:31:35 PM EDT
                 Re: How do you feel about s/Scotland/Stateland/? - (pwhysall) - (1) - Sept. 13, 2014, 07:07:23 AM EDT
                     Zing.. the bedrock of Puritanism; we're that, writ large. - (Ashton) - Sept. 13, 2014, 08:21:53 PM EDT
             A thoughtful analysis of the post referendum negotiation process - (pwhysall) - (1) - Sept. 13, 2014, 07:00:25 AM EDT
                 Very good. Thanks. - (Another Scott) - Sept. 13, 2014, 08:41:39 AM EDT
             Shetland Islander sings about the schism.. - (Ashton) - Sept. 15, 2014, 03:08:18 PM EDT
         And here's the other thing - (pwhysall) - (4) - Sept. 11, 2014, 03:33:33 AM EDT
             Lots of good points. - (Another Scott) - (2) - Sept. 11, 2014, 07:48:07 AM EDT
                 A month ago, I would have been surprised - (pwhysall) - Sept. 11, 2014, 08:23:06 AM EDT
                 Also - (pwhysall) - Sept. 11, 2014, 08:27:12 AM EDT
             Thanks for the comments. - (crazy) - Sept. 11, 2014, 04:28:08 PM EDT
         well the family bidness according to the book of fines - (boxley) - Sept. 12, 2014, 09:56:58 AM EDT

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