Big Les Wade wrote
Rod Speed wrote
Big Les Wade wrote

Ah. If all you mean is that Scottish institutions and
individuals will be able to continue holding sterling
accounts and notes (as Puerto Rico does with US
dollars) then of course you are trivially correct.

Nothing trivial about it.

'Trivial' meaning 'obvious'.

But in such a set-up the Scottish government would not
be able to borrow money by issuing sterling-denominated
debt instruments (because London wouldn't back them)

You've mangled that utterly.

Well I tried to keep it simple for you.

You never could bull**** your way out of a wet paper bag.

and therefore it couldn't manage its
own public finances independently.

Wrong.

To do that, it must issue its own
debt - i.e. launch its own currency.

How odd that all those places that use USDs manage to do that fine.

Do what?

Issue their own debt, obviously.

Manage their public finances independently?

Nope.

No they don't.

Wrong.

They manage them subject to their access to US dollars,
which is strictly limited by Washington's economic policy.

Same with those that use the euro. They manage fine anyway.

And that is more problematic, because it requires Edinburgh
to persuade the markets that it can and will repay the debt.

How odd that all those places that use USDs manage to do that fine.

Do what?

Even you can't actually be THAT stupid.

Borrow on the money markets?

That isnt the only place to borrow.

Of course they can,

So that claim of yours has blown up in your
face and covered you with black stuff, again.

but only to the extent that they can repay the loans in US
dollars, which is against strictly limited by their access to same.

And yet all those countrys that use the euro do that fine.

And your line can't fly with the obvious alternative, the euro.

Unlike sterling, the euro was designed to be a common currency,

Irrelevant to those silly claims of yours above.

with special mechanisms in place from the start
to give members a say in how it is managed

In theory, anyway. In practice the smaller countrys
have no more say that Scotland would and has
done in how things are done with the pound.

(and it has still run into trouble).

Corse nothing like that has ever happened to the pound, eh ?

Anyway, what's your point,

That those claims of yours above have been
proven to be not a problem with the euro.

that Scotland can join the euro instead?

Nope.

We shall see.

I doubt it. Looks very likely that the YES vote
won't get up this time and that they will in fact
end up with DevoMax instead, at least for now.

It'll cost them.

Bet it doesn't. They will in fact get what
makes a hell of a lot more sense instead.

Corse that does mean that England will continue
to steal the revenue from the oil and gas and ****
it against the wall, just like they have always done,
instead of ending up with a MUCH better result
like Norway did when they chose to **** off from
who they had previously been part of.