Debi
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Well basically the SNP want a currency union with the rest of the UK after independence, where the Bank of England will be the lender of last resort. The argument is that, because scotland and England have high exports to each other, it would cost business North and South of the border millions of pounds in transaction costs if the currencies were different (or if we didn't have a currency union), therefore a currency union is in everyones best interests. However, all of the uk parties have come together to say that they would refuse a currency union if Scotland goes independent. The YES campaign say that, because it would be in everyones best interests, after a yes vote, the UK parties WOULD back a currency union and are only saying they wouldn't to scare people into voting NO.
We can keep using the pound as an unofficial currency, no one can stop us, but it comes with risks (i'm not sure what!). The thing is the pound is backed up with oil revenues amd if there wasn't a currency union, some argue that it would depreciate rapidly after a YES vote with no currency union.
The other thing is, if Scotland are not allowed a share in the asset of the Bank of England, then there would be no reason for us to take a share of the laibilities either, therefore we would not be obliged to take a share of the debt.
Everyone is badgering Salmond to talk about his "plan B" in the event that there wasn't a currency union, but in true politician style, he is refusing to back down, sayng that there WILL be a currency union (although there are a number of other plans in the White Paper). This is one of the main reasons people are voting NO, the uncertainty over currency.
I hope this helps some, finances etc aren't really my strong point but I think this is all accurate
We can keep using the pound as an unofficial currency, no one can stop us, but it comes with risks (i'm not sure what!). The thing is the pound is backed up with oil revenues amd if there wasn't a currency union, some argue that it would depreciate rapidly after a YES vote with no currency union.
The other thing is, if Scotland are not allowed a share in the asset of the Bank of England, then there would be no reason for us to take a share of the laibilities either, therefore we would not be obliged to take a share of the debt.
Everyone is badgering Salmond to talk about his "plan B" in the event that there wasn't a currency union, but in true politician style, he is refusing to back down, sayng that there WILL be a currency union (although there are a number of other plans in the White Paper). This is one of the main reasons people are voting NO, the uncertainty over currency.
I hope this helps some, finances etc aren't really my strong point but I think this is all accurate