9 2 mins 11 yrs

George Osborne is right to helpfully point out that if the Scottish Nationalist prevail, Scotland does not just leave the Union, it leaves the Sterling zone.

Mr Osborne said: “Alex Salmond has himself said he’d want Scotland to join the euro and you have to ask yourself is that the currency you want to be joining at the moment? That’s a question that the Scottish people are going to have to ask themselves.” Pressed to say clearly if he would let an independent Scotland keep the pound, Mr Osborne replied: “Alex Salmond has said Scotland should join the euro. That means giving up the pound.”

How about a vote on it? Let the people of England, Wales and Northern Ireland determine if we will allow Scotland to stay in the Sterling zone. I am pretty sure that the answer (certainly from England) will be an overwhelming….GO NOW! Naturally, only a complete lunatic would seek to join the Euro at a time when the Euro looks bound for oblivion. However it is SNP policy to join the Euro. There is a link between the last two sentences.

Maybe the solution is for Scotland to introduce it’s own currency – the Scottish Groat? It could be based on the international value of haggis and whiskey and I am sure the money markets would pass judgement on it soon enough.

Scotland will not vote for Independence, even in the year of 2014. But Salmond’s bluff must be called on the economic front since that is the single greatest weakness in the SNP case.

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9 thoughts on “THE SCOTTISH GROAT…

  1. But I thought that Scotland wanted to be an independant country within the EU? As a new country joining the EU they are required to embrace the Euro – that is point one. Two, we in the UK as a whole would point out that the EU is a very interfering body, more so than the UK I suggest and the majority of us want out. It is in no way Democratic. Three, we, the whole of Europe, are in a dire financial situation, and if Scotland leaves the UK Scotland will have to take with it their share of the Debt. This Debt will have to be paid by all 6 million Scots. Four, there is a good chance that the EU will collapse, not just the Eurozone. Who will Scotland wish to ally themselves to should this happen?

    It seems that Scotland has a lot to think about. I wish them luck.

  2. What i’m trying to work out is what the UK will be called,it can’t call itself the United Kingdom because there is only one kingdom and will it have to change it’s offical name to the Kingdom of Britain and Northern Ireland?

  3. Great Britain is a geographical term. It is the island (and islands) consisting of England, Wales and Scotland, so Great Britain it will always be.

    Without the Jocks I suppose the UK will be the United Kingdom (of England, Wales and NI).

    The Kingdom of Great Britain was brought about by political union with Scotland, not the United Kingdom. The United Kingdom (of Great Britain and Ireland) was brought about with union with the Kingdom of Ireland, later amended to NI.

    So if the Jocks go their own way, logically, we should become … erm … ahhh … “The Kingdom (of England, Wales and NI)”. I like that, it’s good. The “United” in United Kingdom has just been cluttering up the title for too long anyway. Whether in politics, sport, the Eurovision Song Contest, whatever else, we become “The Kingdom”.

    Yep, it’s fitting.

  4. To get back on topic, the Porridge wogs already have their own currency. The blindingly obvious and sensible thing to do would be to keep it and let it float. Clearly they’ll do something else.

  5. I don’t have a dog in this fight but it appears that Cameron and his government are doing a pretty good job of making the case for union and for trying to put Salmond on the back foot.

  6. Phantom

    Logical arguments for the union will only work if articulated by the right people. David Cameron and indeed any Conservative politician will not convince the Scots. Only non-Conservative Scottish political figures can argue the Unionist cause succesfully in Scotland.

  7. I’m surprised that a practiced performer like Salmond is still talking about the Euro and I suspect the we’ll see a change soon. He will proclaim that Scotland can keep the pound like it will keep the Queen as its head of state.

    Why would England want to expel Scotland from sterling and reduce the area of the currency needlessly? It’s not like Scotland would have any say on the extent of money printing managing the currency’s interest rates and exchamge rates. The Irish Free State / Republic stayed in sterling from 1921 until 1979.

  8. The peoples of these islands are bound together by many ties and it should not be beyond us to come up with a way of living as neighbours and friends that does away with both nationalist and unionist resentment. Kicking Scotland out of the Sterling area for spite would be an example of unionist resentment. Taking delight in English defeats in sport and war are expressions of national resentment.

    It’s probably fair to say that here is no better relationship in the mix right now than that between the government of the Irish republic and the British government. What that tells us is that the political union is not as necessary as many believe. We are united by history geography culture and friendship. It is only politics that screws it. Break the chains of the union and you will find they were never really necessary as the natural union of friends emerges. Friends, not family.

    Many in Ireland are now waking up to the lunacy of getting involved in a deeper European integration without Britain. Some, who should know better, have tried to use nationalist anti-Britsh rhetoric to promote the idea but it is not working.

  9. Kicking Scotland out of the Sterling area for spite would be an example of unionist resentment

    To a point but even if no ill will is intended being in the the Sterling area would cause problems for an independent Scotland. The Bank of England would only be responsible for considering UK interests when setting interest rates, so if Scotland diverges from Southern England it would find rates too high or too low, and if it isn’t in the UK it isn’t going to be part of the flow of transfer payments that enable a single currency to survive.

    Also like the Eurozone PIGS it’s debts would not be in a currency they control.

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