| ToxicJosh said: Speaking as a Yorkshireman: please don't leave us alone with those southern pansies; they'll ruin everything! (Or take us with you) But seriously; independence would kill the Scottish economy. There isn't a chance of automatic EU membership, the entire banking sector would be forced to relocate to England, and either public services would face a drastic cut or your taxes would skyrocket. Plus you'd have to change your currency as you wouldn't be permitted to keep Sterling. The yes campaign will tell you otherwise on these points, but the simple truth is that they have no influence over these issues. Control of Sterling is Bank of England and British government, and they have no reason to allow or want a currency union. EU membership is based on applying and waiting years to be allowed in. And under European law, companies have to be based in the country where they conduct the majority of their business; so the banking sector that is so crucial to the Scottish economy would have to relocate. On top of that, it would be very hard, if not impossible to get mortgages etc. as British based banks and building societies are not permitted to lend outside the EU and the criteria for lending outside the UK is incredibly strict in any case. Simply put; voting yes would harm Scotland almost beyond repair. As much as I'd like the North of England to receive more independence from those Tory arseholes down South and maybe get representatives who actually, you know, represent. Splitting from the rest of the country is suicide. Also, Scotland makes up part of my identity as British, as does Wales and Northern Ireland. I may have been born and raised in England, but 'English' is not and has never been part of my nationality. This is Alex Salmond's ego trip, don't give it him. |
Independence wouldn't kill the Scottish economy.
Why is EU membership necessary? In fact, I still don't understand why Scotland would excise itself from one union, and jump right into another union. So, honestly, I think the EU thing is a joke. The only benefit the EU provides to European Nations is a single currency, but that same benefit is also a significant drawback because having the Euro as a currency means not having monetary control. Your currency doesn't adjust, thus if or when there are issues in the economy, and prices need to adjust down or increase, they can't.
However, there is nothing that prevents Scotland from using the GBP (it isn't the Pound Sterling anymore either -- it hasn't been for ages -- the pound isn't based on Silver notes.) , there are countries around the world, that use the US dollar as their national currency or their currency of choice or trade. There's nothing stopping Scotland from using the GBP for their currency. However, they run into the same problem as if they adopt the Euro. They don't have control of it.
Scotland would be better off using it's own currency. Whether it chooses to establish it's own or not is another question.
I don't understand what logic you're attempting to use by implying Scottish financial sector would move to England. This logically is incoherent. Under what premise does this even make sense? Any bank or financial institution stupid enough to exit the Scottish market would be replaced by another bank or financial institution. The implication suggest a complete lack of understanding of the financial sector. Really, seriously, WTF?
I think the solution to your British banks problem would be solved by Scottish banks. I'm just making a logical conclusion here. There are Scottish banks in Scotland.
