to ask why the Yes campaign in Scotland wants to keep the pound?

[grovel]

That's it really. Surely an independent Scotland would want its own Central Bank setting interest rates etc?

[SantanaLopez]

Scotland had the pound before Union - that's why Clydesdale and other Scottish banks issue their own notes. So why does the Bank of England/English government get to say whether or not Scotland keeps its own currency?

The eighteenth century is too far removed from modern economies and legal systems to be recreated. Scotland can't revert to 1707 forms, they just don't exist any more.

Currencies are institutions of a particular country and therefore do not have to be shared with a seceding part of that state. Under international law, debts and assets have to be shared. iScotland would be entitled to a share of the gold reserves backing the currency, but they are not entitled under international law to share in the currency of the country which they have just voted to leave.

Of course, they can use the currency, but this is not likely to be on favourable terms for iScotland, because it's dependence on oil will need very flexible and quickly moving economic policies to deal with the economic volatility of oil. If they decide to piggy back on the pound, they just can't do that. It's arguable whether they could do to a significant enough impact in a currency union anyway.

[ellawithaspecialnose]

The voters and government of rUK, and the Bank of England, don't want it, aren't offering it, and won't accept it. As an independent nation, it will be their right to decide if they want to enter into a currency union with a foreign country.

PigletJohn, if that's true - that [the voters ... of rUK ... don't want it] that's because the lie is being pushed upon them that currency union with Scotland will be somehow detrimental to their finances when in fact, the opposite is true - LACK of currency union with Scotland would be incredibly detrimental to rUK.

Please think to yourselves - why on earth are Westminster doing their darndest to keep hold of us, if rUK would truly be better off without us? Through love for their brothers and sisters north of the border, and concern that we don't do the wrong thing? Somehow, I doubt it.

[PeachandRaspberry]

LACK of currency union with Scotland would be incredibly detrimental to rUK.

Why would it? rUK does more trade with US and the rest of Europe than it does with Scotland.

[weatherall]

Santana- during the negotiations Scotland will still be part of the UK. Are you saying the UK gov will actively do something to the detriment of UK citizens?

[weatherall]

Rose- you say that you have researched widely. Can I ask what your sources are?

Almost all of the Mainstream media is biased against Yes. (As demonstrated by the UWS research into the BBC)

[Sallyingforth]

What Scottish voters need to understand is that independence means they will become a foreign country as far as rUK is concerned.

As a citizen of the rUK I will expect my government to do what's best for me and not for any foreign country.

In judging what is best for me I will accept the advice of my own government and of the Bank of England, rather than that of the SNP whose only interest is their own.

[SantanaLopez]

Negotiations will be forward looking, weatherall. Scotland would have voted to separate itself from UK control and Scottish citizens would therefore be represented by their own negotiating party, not by the Westminster negotiating party.

[grovel]

weatherall, I think the majority sentiment in rUK is that people want Scotland to stay in the union. If there is a Yes vote, I suspect that media (and then public) sentiment in England, Wales, NI would harden against the separation and affect the negotiations. The focus would be on "giveaways", not compromises. Hard for the politicos.

[weatherall]

Peach- Scotland is rUK's second largest export market. BOS figures say that 700,000 rUK jobs depend on the currency union.

Would any post 2015 Westminster government jeopardise these jobs when at that point there would be no political gain from doing so?

So many of the better together arguments assume that governments always do what they say they will after elections/votes- have we learned nothing from the past?!

[msrisotto]

What does rUK mean?

[weatherall]

Sally- during the negotiation period between 19th September 2014 and Independence Day on 26th march 2016 Scotland will be as much a part of the UK as at the moment.

We will not be a 'foreign country' during the negotiations. We will still have MPs who are elected to represent us in the UK.

[grovel]

Rest of UK (I think) as opposed to iScotland (independent).

[StatisticallyChallenged]

Weatherall - polls have concluded that something like 65% of English and Welsh people are against currency union, and only about 20% for (will try to find the exact figures)

Bearing in mind that the negotiations would be taking place in the run up to a UK general election...I think it's quite reasonable that if those are the public sentiments there would be no currency union regardless of whether it might be financially better. Which party is going to stand up and say "actually, I know the majority of voters are opposed but we'll do a currency union anyway"

[grovel]

Yes, weatherall, but once the Scots reject rUK (if they do) in the referendum do you really think that rUK negotiators won't be affected by media/public opinion outside Scotland?

[caruthers]

I hope rUK do what's best for what remains of the UK.

And I believe that is what's going to happen.

[weatherall]

rUK = rest of UK ie England, Wales and Northern Ireland, after Scottish Independence Day, proposed to be 26th March 2016.

[Sallyingforth]

Yes Wetherall that's true. But Scottish MPs will be in a minority in parliament and have little say in what the Cabinet decides is best for the rUK.

[PigletJohn]

Weatherall, have you never heard anyone say "Next time RBS goes bust, it won't be the BoE bailing them out?"

[weatherall]

And that is why we need independence- because the UK gov do not work in Scotland's best interests. Not now. Not in the past. Not ever.

[weatherall]

Piglet- have you conveniently forgotten about Ireland's bail out?

[withextradinosaurs]

Thanks! That's helpful.

Can I ask my other question?

It is "the United Kingdom of Great Britain and Northern Ireland". The only 2 kingdoms in that entity are England and Scotland.

So how can there be a "remaining UK" or a "rest of UK" - if there's only one Kingdom left it can't be united, surely?

[MelonadeAgain]

Whats the point in independence if they don't take the chance to assert their own currency? I thought it was all about individual Scottish identity, independence from RofUK influence, etc.. I would have thought plans for a separate currency would have been an integral part of that, already fully thought out and laid on the table.

[PigletJohn]

well you have now.

[aprilanne]

i don,t think anyone should worry because i don,t think enough of us will vote for wee eck .the man is a tube .

[BigBoobiedBertha]

Quick question. In the event of the yes vote winning, who gets to negotiate on behalf of Scotland then?