Scottish Independance

Thanks @JWK.

I don't see how any "start up" country could achieve that, so there must be another way to "acquire" the reserves? ... perhaps Bank of England would underwrite Scotland for X years to give it time to accumulate its reserves. Presumably as some sort of loan.

 

http://www.theguardian.com/money/2014/sep/10/scottish-referendum-uncertainty-bank-account-protection

"The Czechs and Slovak put in place a transitional monetary union that was intended to last at least six months; it broke up after only a month, driven by large deposit outflows from banks in Slovakia.

What drove the deposit outflows? Expectations – which were later fulfilled - of a currency breakup and resulting Slovak devaluation. We lived in Prague at the time; our impression was that corporate deposits moved more quickly and in much greater amounts than retail deposits.

Slovak companies paid their Czech bills quickly; Czech companies did the opposite. In our view, both sides were behaving entirely rationally, but these aggregate behaviours exacerbated the deposit outflows from Slovak banks into Czech banks."

Bit different the to Canadian situation I suppose

 

What am I talking about ... they have until 2018 to build up the reserves, so they can be ready with a currency when the split actually happens ... perhaps?

 

The remainder of UK lending an independent Scotland money when they're refusing to accept their share of existing debt sounds bonkers to me.

 

I agree, seems a lot, and normal mortals with a 3x salary mortgage take 20 years to pay it back, so a 1x GDP "mortgage" might take 7 years?? but I still think something along those lines could be achieved. The Czechs and Slovaks must have sorted themselves out somehow??

 

Breaking news! The Yes campaign has just gained a new major supporter for an independent Scotland - North Korea (true).

 

I will be amazed if turnout isn't incredibly high ... even so, this close, it looks like being "carried" by less than half of the electorate, which is never good for a vote on anything momentous

 

FTSE 100 slip sliding away tonight
7473.81....

 

I can't see why not. Maybe not immediately. I'm sure something must be built into law to stop a referendum a week type of thing, but nothing is truly permanent.

 

Said on the radio that Asda and John Lewis are threatening to put prices up in Scotland if there's a Yes vote. Anyone understand why that would be?

 

Well I have come to the conclusion that Alex Salmond must be quite mad!!!!

Val

 

Transport costs? Not sure why the prices wouldn't be higher in the sticks anyway (for private enterprise)