Scotland Debate

[Adi2Dassler]

Maybe I'm not grasping the subtlety of your point here but you pay an exchange rate and possibly bank charges on such a transaction? Hence it costs you more.....

possibly.But possibly not.How many folk in Scotland have mortgages with Halifax?Lets say 100,000 (it'll be more) Halifax are going to put those accounts at risk by putting charges on transactions? Someone else will just offer to do it without them and Halifax will be goosed.I fail to see the issue.

 

[Foxholer]

That issue is simply sorted by initially pegging the 'new' Scottish to Sterling at a rate of 1:1 - without float! It's only when there is a floating currency that there are exchange rate risks between the two.

As part of transition, Banks/Mortgage Holders would be required to move the debt into Scotland, so no 'Foreign Currency' Mortgage.

And all the above would only be required if 'Currency Union' was rejected. And the above administration hassle is one of the arguments for Currency Union - at least initially.

I believe an Independent Scotland will/would, eventually, have its own currency though.

 

[SAPCOR1]

Aye, apologies.The question is still valid, where is the issue? I pay folk in Euros occasionally, I tell them I'm paying the £x then transfer the cash to them via bacs and it arrives in their account in Spain the Euro.

If the Scottish currency is valued at 80% of Sterling, as the Euro currently is, then overnight you will lose 20% from the value of your assets.

Transferring money currently you get the current Sterling to Euro exchange rate but if the Scottish £ is worth the same as the Euro in the future then you will get a like for like amount.

Eg: Currently £1.00 = €1.20. Potential future SC£1.00 =€1.00

(Ps: Bacs is for UK only, SEPA payments for Euro zone)

 

[One Planer]

possibly.But possibly not.How many folk in Scotland have mortgages with Halifax?Lets say 100,000 (it'll be more) Halifax are going to put those accounts at risk by putting charges on transactions? Someone else will just offer to do it without them and Halifax will be goosed.I fail to see the issue.

But would they?

I have a HBOS mortgage. Does that mean post independence I would potentially have the same issue making payments to a Scottish bank?

Or in a better case scenario. I have £24000 sterling left to pay on my mortgage, but I would be paying Bank of Scotland (HBOS), does that mean I then pay in your new currency and my mortgage is vastly reduced due to currency differences?

 

[williamalex1]

I should have said. Total numbskull of a ref.

I agree he definitely wasn't 4 star.:thup:

 

[FairwayDodger]

I agree he definitely wasn't 4 star.:thup:

Salmond has released a statement promising a higher standard of refereeing in an independent Scotland. And a team that will always qualify for major finals once we have full use of our oil revenues to fund a playing field on every street and free new boots for every child...

Better together claim that an independent Scotland, with its players unable to participate in the "best league in the world", the EPL, (work permit issues due to being an non-EU country) will never play in a major finals again.....

 

[williamalex1]

Salmond has released a statement promising a higher standard of refereeing in an independent Scotland. And a team that will always qualify for major finals once we have full use of our oil revenues to fund a playing field on every street and free new boots for every child...

Better together claim that an independent Scotland, with it's players unable to participate in the "best league in the world", the EPL, (work permit issues due to being an non-EU country) will never play in a major finals again.....

I'll need to consider that very carefully

 

[SwingsitlikeHogan]

Kinda what I interpreted. I fail to understand the nightmare.Lets create a scenario.

Scotland has it's own currency, lets call it the bawbag and the scrote, it's value is 80% of the £, so £1 = 80 bawbags.

My mortgage was taken out 10 years ago with Halifax and I've got £50K left, or 40K bawbags.Each month I used to pay £200 but now I pay 160 bawbags.The Halifax, to make it easier and to ensure they keep my business, are quite happy to show on my statement the d/d in either currency.I fail to see where the issue lies.I understand why the potential issue is being created by a frenzied and deeplu worried union at Westminster, it looks like me just be about to walk away.

My projects are all budgeted and costs forecast in €s. My time is charged in £s. I use Dutch, German, Spanish, Polish, Romanian, US and Indian resource on my projects. A multitude of currencies. It's no big deal.

 

[SwingsitlikeHogan]

22nd January this thread was started and we've been debating the subject pretty solidly ever since. And almost from the start the likes of A2D and DfT forecast a narrowing of the the polls as referendum day approached - as that is what Salmond and the SNP are brilliant at doing. And so it has come to pass. Yet the English MSM are today acting as if this closing of the gap was something completely startling and unexpected - coming to them quite out of the blue. Ah well. At least England seems now to have truly woken up to what might happen a week on Thursday.

 

[chrisd]

22nd January this thread was started and we've been debating the subject pretty solidly ever since. And almost from the start the likes of A2D and DfT forecast a narrowing of the the polls as referendum day approached - as that is what Salmond and the SNP are brilliant at doing. And so it has come to pass. Yet the English MSM are today acting as if this closing of the gap was something completely startling and unexpected - coming to them quite out of the blue. Ah well. At least England seems now to have truly woken up to what might happen a week on Thursday.

4,000 + plus posts later, and I have to ask the question.

Do you think "England" is remotely interested in the vote or it's eventual outcome?

 

[SwingsitlikeHogan]

4,000 + plus posts later, and I have to ask the question.

Do you think "England" is remotely interested in the vote or it's eventual outcome?

Well it should be - not for anything to do with Scotland as such - but should be getting answers to questions about what next for the rUK post a YES - and also what next if a NO on the back of a load of promises from Gideon and Co. Maybe us folks of EWANI are happy just to wait and see.

 

[Doon frae Troon]

Re mortgages.
With average house prices in Central London £1.6m and £500,000 in Greater London how does mortgage repayments square up to an average of £160,000 for Scotland and £126,000 for Glasgow.

 

[SwingsitlikeHogan]

Re mortgages.
With average house prices in Central London £1.6m and £500,000 in Greater London how does mortgage repayments square up to an average of £160,000 for Scotland and £126,000 for Glasgow.

London is effectively a city state - with metropolitan area population of 13m and growing - so way bigger than Scotland, Wales and NI lumped together. Greater London 10m (2014)

 

[Adi2Dassler]

4,000 + plus posts later, and I have to ask the question.

Do you think "England" is remotely interested in the vote or it's eventual outcome?

http://www.theguardian.com/commenti...and-love-bombing-scotland-no-vote-westminster

 

[SwingsitlikeHogan]

Speaking with my mother earlier it sounds like my pretty large extended family from all across Scotland are largely in the YES. We are a highlands and islands family stretching from cousins in Orkney, Ullapool and Inverness to Tiree and Islay plus sister and husband in Arran. My brother in Aberdeen and at least some of his mates in the oil and civil engineering industry (my brother is pretty senior guy used to work for Wood group) are also YES. Other Aberdeenshire cousins are YES. My Fife relatives are undecided/NO. And my mum is YES - but her neighbours are largely NO.

 

[Old Skier]

Speaking with my mother earlier it sounds like my pretty large extended family from all across Scotland are largely in the YES. We are a highlands and islands family stretching from cousins in Orkney, Ullapool and Inverness to Tiree and Islay plus sister and husband in Arran. My brother in Aberdeen and at least some of his mates in the oil and civil engineering industry (my brother is pretty senior guy used to work for Wood group) are also YES. Other Aberdeenshire cousins are YES. My Fife relatives are undecided/NO. And my mum is YES - but her neighbours are largely NO.

I met these guys in the pub, they have hundreds of relatives living far and wide in Scotland, they are all voting No. :blah:

 

[patricks148]

in most cases I've found it depends on who you are asking. Ive just come back from a few days a way with a the group of guys all of which all are either: Lawyers, Doctors and Retired Bankers and a Judge all are No Voters.

 

[Old Skier]

Seems like the markets have started to give their verdict.

 

[SwingsitlikeHogan]

I met these guys in the pub, they have hundreds of relatives living far and wide in Scotland, they are all voting No. :blah:

You wouldn't have met them all in the :cheers: - some are Wee Frees :ears:

 

[SwingsitlikeHogan]

Seems like the markets have started to give their verdict.

A verdict on the Westminster stance on CU? Maybe the markets don't believe what Gideon and Co are saying and given a YES looks a possibility they want G&C to come clean.