Comments on: Independent Scotland won’t keep the pound http://blogs.reuters.com/hugo-dixon/2014/02/03/independent-scotland-wont-keep-the-pound/ Mon, 18 Apr 2016 14:55:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: expat75 http://blogs.reuters.com/hugo-dixon/2014/02/03/independent-scotland-wont-keep-the-pound/comment-page-1/#comment-743 Sun, 09 Feb 2014 13:18:57 +0000 http://blogs.reuters.com/hugo-dixon/?p=727#comment-743 Scottish parsimony when it came to money was in the past legendary. It was on that belief that I invested in Bank of Scotland shares, and lost a lot of my savings in the crash of 2008. If one Scottish bank can be so badly managed, what hope is there for Scotland? Is the government in London going to come to Scotland’s rescue on the basis of ‘too big to allow to fail’, when its independent currency goes down the tube like Greece?

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By: expat75 http://blogs.reuters.com/hugo-dixon/2014/02/03/independent-scotland-wont-keep-the-pound/comment-page-1/#comment-742 Sun, 09 Feb 2014 13:18:48 +0000 http://blogs.reuters.com/hugo-dixon/?p=727#comment-742 Scottish parsimony when it came to money was in the past legendary. It was on that belief that I invested in Bank of Scotland shares, and lost a lot of my savings in the crash of 2008. If one Scottish bank can be so badly managed, what hope is there for Scotland? Is the government in London going to come to Scotland’s rescue on the basis of ‘too big to allow to fail’, when its independent currency goes down the tube like Greece?

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By: phoen2011 http://blogs.reuters.com/hugo-dixon/2014/02/03/independent-scotland-wont-keep-the-pound/comment-page-1/#comment-739 Wed, 05 Feb 2014 01:13:33 +0000 http://blogs.reuters.com/hugo-dixon/?p=727#comment-739 London could stop Edinburgh to join the EU? and what about Cameron’s referendum and the antiEU hysteria ? This is so funny: the English keep on lecturing Spaniards and Greeks they must leave the Euro but find it is not in the interest of Scotland to regain her sovereignity. Even Lafarge is threatening the Scots they will end up outside the EU. What a nerve!

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By: James_L http://blogs.reuters.com/hugo-dixon/2014/02/03/independent-scotland-wont-keep-the-pound/comment-page-1/#comment-738 Mon, 03 Feb 2014 22:12:51 +0000 http://blogs.reuters.com/hugo-dixon/?p=727#comment-738 @KampungH
‘You ignore that the vast majority of “Scottish” banking assets are in what would be the rUK’

No of course they wouldnt be. They would only be transferred if BoE agreed – and, again, there is no reason why the rUK would help Scotland. If Scottish banks got into trouble (again), BoE would treat Scotland like Iceland instead of bailing them out, as in 2008.

@ARJTurgot2
‘You ignore that the Scots will be doing the negotiating for both Scotland and the UK’
After independence? No of course they won’t.

‘All your bases are belong to us, and get your ships out of them’
All RN warships will move to UK bases in England, ten thousand jobs in Scotland lost. Scotland will never build another ship ever again (the navy was their only customer), another ten thousand jobs lost.

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By: ARJTurgot2 http://blogs.reuters.com/hugo-dixon/2014/02/03/independent-scotland-wont-keep-the-pound/comment-page-1/#comment-737 Mon, 03 Feb 2014 16:26:55 +0000 http://blogs.reuters.com/hugo-dixon/?p=727#comment-737 You ignore that the Scots will be doing the negotiating for both Scotland and the UK, and will have a significant role in the final vote in Parliament on the the treaty. There are enough Scots in the SNP, Labor, and Conservative to combine with Labor and stick it to the Conservatives.

All your bases are belong to us, and get your ships out of them (or pay A LOT of rent).

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By: KampungH http://blogs.reuters.com/hugo-dixon/2014/02/03/independent-scotland-wont-keep-the-pound/comment-page-1/#comment-736 Mon, 03 Feb 2014 11:10:45 +0000 http://blogs.reuters.com/hugo-dixon/?p=727#comment-736 For someone who writes about international finance you seem woefully ignorant of how things actually work.

You say “A separate currency would also cause trouble for the outsized Scottish banking sector. Banking assets are more than 12 times GDP”

You ignore that the vast majority of “Scottish” banking assets are in what would be the rUK and as such would be under BOE supervision and obligation even if a currency union did not take place.

As an example when the banks in Iceland got into trouble it was the UK government that had to bail out UK depositors despite the UK governments threats to use anti terrorism regulations.

So the lesson learned is that acting like a bully, which you seem to fully endorse through the tone of your opinions, rather than getting you what you want just make you look foolish. When push comes to shove it is the law and not bombast that decides what happens.

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