On 19/05/2013 19:30, dennis@home wrote:
On 19/05/2013 18:15, mcp wrote:
On Sun, 19 May 2013 10:27:10 +0100, "dennis@home"
wrote:

If they want into the EU they will have to have the Euro.
Britain is the only country with a separate currency and the Scotts
can't keep the pound as they will have different economic activity and
we don't want an independent country to be able to interfere with us.
The EU will want them to have the Euro.

The Euro is only used by 17 of the current 27 EU members. Countries
that wish to join the Euro must successfully participate in the ERM
for at least 2 years beforehand. There is no requirement for EU
countries to join the ERM so Scotland can't be forced to have the
Euro. The Pound and the Bank of England are the property of the UK so
they are partly Scottish. As the pound is a freely convertible
currency there is very little the rest of the former UK could do to
stop an independant Scotland (or anyone else) using it.


So we could start printing and using US dollars?

Is it so very difficult to read "using" rather than "printing" (rather
than both linked by "and")?

The fact that Scotland could not print Bank of England currency is a
problem in that it precludes some of the controls over currency that
sovereign states have. Like printing more! And setting interest rates.
If an independent Scotland didn't like what BoE did, they might not have
much beyond words to get a policy changed.

--
Rod