If Scotland votes to leave is the pound doomed?

[sawadee1947]

...who needs the POUND really? We in Ireland are happy without and love our independence. Congrats to the Scottish !

Banknotes issued by northern Ireland are denominated in pounds sterling...talk about thick.,.this guy doesn't even know what currency his own country has. As for Southern Ireland, it's in the euro, I doesn't have it's own currency, it has the euro. LOL.

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Bit of education for you....Southern Ireland is the formerly used name of the republic, and still sometimes used to distinguish the region geographically from the so called north.

SORRY, did not know how old you are already. You do live in your past. RIP

[carter1882]

If you want to make money forget what is going to happen to the pound. Bet on a no vote that is now trading at an extremely generous 1-2. Make 50 per cent on your money by the end of next week. The Scots are an extremely wily and sensible people who will make the sensible call and vote no with the full knowledge that further devolution will come anyway. I hope this is taken as a more positive comment on those north of the border, and i have no intention of asking why does a 50 p piece have sides.....so it is possible to use a spanner to get it out of a Scotsman's hand. No intention at all

[fletchsmile]

...who needs the POUND really? We in Ireland are happy without and love our independence. Congrats to the Scottish !

Banknotes issued by northern Ireland are denominated in pounds sterling...talk about thick.,.this guy doesn't even know what currency his own country has. As for Southern Ireland, it's in the euro, I doesn't have it's own currency, it has the euro. LOL.

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Simple minds prohibited in Ireland?

I thought it was a condition of entry

[sawadee1947]

...who needs the POUND really? We in Ireland are happy without and love our independence. Congrats to the Scottish !

Banknotes issued by northern Ireland are denominated in pounds sterling...talk about thick.,.this guy doesn't even know what currency his own country has. As for Southern Ireland, it's in the euro, I doesn't have it's own currency, it has the euro. LOL.

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Simple minds prohibited in Ireland?

I thought it was a condition of entry

well, sometimes. You are right. We used them as fish mongers....if they came from uk in particular....

[paddyjenkins]

Re post paddyjenkis

Fully agree 100% with the economist. I too, doubt that the majority of Scots really understand the financial implications of voting for Independence. When I read some of the comments by fellow Scots on this forum, I can only shake my head. I only hope the majority of Scots have the sense to vote NO, as Salmond, and his cohorts, haven't got a clue.

Regarding the above comment about Ireland, 'being happy, and love our Independence'. Independence, most of your laws come from Brussles. Wasn't it only a a couple of years ago Ireland had to go cap in hand for a bailout to the EU. And, as far as I'm aware you haven't paid it back fully, yet. Yes, just what we in Scotland need.

Brussels has never been an "enemy". Not any evil came from there. Much more was home made. All decisions have to be accepted by all member states. But if you can't agree with consense...

That you Poms might leave the EU...why not. We don't need you. You were always a problem for a sustainable future of EU. Scotland should use their rights of independance and join the Euro club with all advantages and obligations. Be proud Scots! Don't follow that isolated Cameron, who is not taken seriously in EU

Scotland can't just waltz into the EU but even if they eventually do, the EU has so far been an unmitigated disaster no matter what you decide to say on these forums.

If they want independence, fine, it's up to them, but they will need to stand on their own two feet with their own currency and pay their debts. If they do not pay their debt they will be frozen out of the financial markets and out of their biggest trading partner which will be disastrous for them. If you want to know how disastrous then look at Argentina, even Zimbabwe as examples. If they do find a way of creating their own workable currency and pay their debts then in the end they may just be okay, but it won't be easy. It's a huge risk they will be taking if they vote for independence and simple minded nationalistic nonsense is so far all I hear from the Yes campaigners.

[mrbojangles]

I read this in money week yesterday

If Scotland wants to stay in a currency union, the rest of the UK has to agree with it. And so far, every party who does or might hold power in Westminster, has said that they won't.

There's a good reason for this – it's not just sour grapes. If Scotland and the rest of Britain remain in a currency union, then England, Northern Ireland and Wales are effectively promising to underwrite an independent Scotland. As Martin Wolf put it in the FT the other day, Scotland would need to sign some pretty strict rules making it accountable to the UK government for keeping its public spending under control – not unlike the rules that are meant to govern all the eurozone countries.

The problem, says Wolf, is that "within a currency union, the cost of fiscal profligacy [ie, too much government spending] by a smaller member may be shifted on to the larger one. But the much larger member cannot shift the cost of its profligacy on to the smaller one. Thus Scotland would have an incentive towards profligacy that the UK would not."

In other words, it creates a massive moral hazard. So if Scotland wants to share a currency in a way that's acceptable to the rest of the UK, it would have to abide by some pretty strict rules. Which then make the case for independence look kind of pointless.

The above is just about if Scotland want to stay in a currency Union. If they want to create their own currency, a new can of worms opens up. If you have money or assets in Scotland you should be worried about what might happen to them if a new currency is to be introduced. And the affects of this won't be known for sure until way after the vote.

Goldman Sachs analyst Kevin Daly said. "Anyone with any sense of financial risk aversion would have a strong incentive to sell Scottish-based assets and withdraw deposits from Scottish-based banks". But if there is run on Scottish banks, then the Bank of England would have to step in to bail them out. You're then looking at a big drop in the pound at the very least.

In my heart, I don't care either way. If the Scots want to leave, then sobeit and good luck. However, my head says why on earth are you doing this now, so soon after the economic disaster we are just coming out of? I don't think the Scottish people have been given enough facts and too much spin, to make an educated decision.

In addition to the currency (and Nuclear, ITAR, Armed Forces, Oil, manufacturing etc) issues, there is also the issue about a general election next year. Would it be valid for residents of Scotland to vote for the government of a country they had just decided to leave? At the very least, it would be called into question.

[fletchsmile]

This article from yesterday may be of interest...

Www.hl.co.uk/news/articles/sterling-falls-as-yes-campaign-gathers-momentum

Cheers

Fletch

[fletchsmile]

...who needs the POUND really? We in Ireland are happy without and love our independence. Congrats to the Scottish !

Banknotes issued by northern Ireland are denominated in pounds sterling...talk about thick.,.this guy doesn't even know what currency his own country has. As for Southern Ireland, it's in the euro, I doesn't have it's own currency, it has the euro. LOL.

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Simple minds prohibited in Ireland?

I thought it was a condition of entry

well, sometimes. You are right. We used them as fish mongers....if they came from uk in particular....

....Whereas the simple Irish mongers come to Thailand... no?

[sawadee1947]

Re post paddyjenkis

Fully agree 100% with the economist. I too, doubt that the majority of Scots really understand the financial implications of voting for Independence. When I read some of the comments by fellow Scots on this forum, I can only shake my head. I only hope the majority of Scots have the sense to vote NO, as Salmond, and his cohorts, haven't got a clue.

Regarding the above comment about Ireland, 'being happy, and love our Independence'. Independence, most of your laws come from Brussles. Wasn't it only a a couple of years ago Ireland had to go cap in hand for a bailout to the EU. And, as far as I'm aware you haven't paid it back fully, yet. Yes, just what we in Scotland need.

Brussels has never been an "enemy". Not any evil came from there. Much more was home made. All decisions have to be accepted by all member states. But if you can't agree with consense...

That you Poms might leave the EU...why not. We don't need you. You were always a problem for a sustainable future of EU. Scotland should use their rights of independance and join the Euro club with all advantages and obligations. Be proud Scots! Don't follow that isolated Cameron, who is not taken seriously in EU

Scotland can't just waltz into the EU but even if they eventually do, the EU has so far been an unmitigated disaster no matter what you decide to say on these forums.

If they want independence, fine, it's up to them, but they will need to stand on their own two feet with their own currency and pay their debts. If they do not pay their debt they will be frozen out of the financial markets and out of their biggest trading partner which will be disastrous for them. If you want to know how disastrous then look at Argentina, even Zimbabwe as examples. If they do find a way of creating their own workable currency and pay their debts then in the end they may just be okay, but it won't be easy. It's a huge risk they will be taking if they vote for independence and simple minded nationalistic nonsense is so far all I hear from the Yes campaigners.

hahahaha. you compares SCOTLAND with ARGENTINA and ZIMBABWE..????? Are you crazy? Scotland is a democratic country and not governed by dictators exploiting their country just to fill their own pockets...and also: where is the desaster created by EU? A desaster maybe for UK? That's why you're isolated!

[sawadee1947]

...who needs the POUND really? We in Ireland are happy without and love our independence. Congrats to the Scottish !

Banknotes issued by northern Ireland are denominated in pounds sterling...talk about thick.,.this guy doesn't even know what currency his own country has. As for Southern Ireland, it's in the euro, I doesn't have it's own currency, it has the euro. LOL.

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Simple minds prohibited in Ireland?

I thought it was a condition of entry

well, sometimes. You are right. We used them as fish mongers....if they came from uk in particular....

....Whereas the simple Irish mongers come to Thailand... no?

you did not read carefully....problems of a fish monger?? "We used them as fish mongers....if they came from uk in particular."

[fletchsmile]

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Simple minds prohibited in Ireland?

I thought it was a condition of entry

well, sometimes. You are right. We used them as fish mongers....if they came from uk in particular....

....Whereas the simple Irish mongers come to Thailand... no?

you did not read carefully....problems of a fish monger?? "We used them as fish mongers....if they came from uk in particular."

... whereas the simple Irish mongers do indeed come to Thailand ... no?

Edited September 9, 2014 by fletchsmile

[Gifford]

Paul Krugman wrote about the referendum in the New York Times, he a Nobel prize winning economist. He points out the huge risk Scotland will be taking in going it alone. Scotland won't be the equivalent of Canada, it will be more like Spain without the sunshine, a bankrupt country with 40% unemployment. Perhaps Argentina will be a better analogy. He finds it mind boggling that Scots would be going for this and doubts the majority understand the risks. I totally agree. Of course in the short term the GBP will be volatile, but my guess is the UK will come out a lot stronger over time and the pound will recover. I am shorting the pound, but only as a trade, to make it a bit of money as I watch it plunge. But long term, if Scotland wishes to go it alone, have no currency of their own, default on their debt, be cut out from doing business with their biggest trading counterpart by far, become estranged from their partner of 300 years, lose their subsidies, lose their disproportionate political say, then up to them. They will have forever to regret as there will be no going back. To do this so soon after the financial crisis, when forces such as China, Russia and Islamic extremism are such huge threats, when we all need union and strength in numbers, really is mind bogglingly stupid.

Totally agree. It is absolutely nuts. They are in for a bit of a shock if they vote yes. As for the £, I feel it will strengthen without them, this is just a short term blip while people such as yourself make money off the uncertainty. I wish i had shorted too, but I had no idea how damn close to a stupid Scottish decision we would come. That said, I keep half my money in USD so maybe I could switch that back to GBP if it drops a little further.

[sawadee1947]

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Simple minds prohibited in Ireland?

I thought it was a condition of entry

well, sometimes. You are right. We used them as fish mongers....if they came from uk in particular....

....Whereas the simple Irish mongers come to Thailand... no?

you did not read carefully....problems of a fish monger?? "We used them as fish mongers....if they came from uk in particular."

... whereas the simple Irish mongers do indeed come to Thailand ... no?

oh, now I can see.....! You came from UK, settled in Ireland, worked as a fish monger and live now in Thailand..! Welcome, old friend. Take care

[anon676545345]

Do your home work, man! There is NO SOUTHERN IRELAND !!!....But Ireland as a REPUBLIC. And we are indeed happy to have the EURO. Please YOU stay away from my country please. Simple minds are prohibited...!

Simple minds prohibited in Ireland?

I thought it was a condition of entry

well, sometimes. You are right. We used them as fish mongers....if they came from uk in particular....

Haha I imagine the que of people from England looking for work in your booming economy is immense, it will be unfortunate if the UK leaves the EU that both of them will have to come home.

[Saleg]

Nothing more satisfying than a wad of Scottish £100 Banknotes. Can't see them depreciating.

[CaptHaddock]

Partial list of countries that have successfully, if not always peacefully, separated from a union with other countries:

USA

Canada

Australia

Eire

Latvia

Lithuania

Estonia

Ukraine (although apparently not irreversibly)

Kazakhstan

Uzbekistan

Outer Mongolia

Norway

Finland

Iceland

Greenland

Slovakia

Czech Republic

Poland (more than once)

German Democratic Republic (since reversed)

Every country in South America

Taiwan (de facto, if not de jure)

All countries of sub-Saharan Africa

All of the Caribbean countries

The Philippines (twice)

South Korea

Hungary

Austria

Bosnia

Serbia

Croatia

Macedonia

Of the face of it, the Scots ought to be able to figure out a way to print passports and the rest of it.

Edited September 9, 2014 by CaptHaddock

[joebrown]

If Scotland votes YES to independence then I say good riddance to the lot of you! Most of the Scots I've met who've moved south of the border (to better themselves) have continually bored me with their reminders of Bannockburn etc. They rarely support Team England in any sport, and say the best road sign in England is the one on the M6 which says "Welcome to Scotland". Their well known orator Tony Blair and his charismatic side-kick Gordon Brown weren't good economists, but they have a lot to answer to for their 'economies with the truth'. Yes, the English should treat Scotland as an Alien country, with passport control, border checks etc. Finally, all economic assistance (benefits) for the Scots should be stopped. Why not get Wimpeys to re-build Hadrians Wall and be done with it?

Edited September 9, 2014 by joebrown

[sawadee1947]

Partial list of countries that have successfully, if not always peacefully, separated from a union with other countries:

USA

Canada

Australia

Eire

Latvia

Lithuania

Estonia

Ukraine (although apparently not irreversibly)

Kazakhstan

Uzbekistan

Outer Mongolia

Norway

Finland

Iceland

Greenland

Slovakia

Czech Republic

Poland (more than once)

German Democratic Republic (since reversed)

Every country in South America

Taiwan (de facto, if not de jure)

All countries of sub-Saharan Africa

All of the Caribbean countries

The Philippines (twice)

South Korea

Hungary

Austria

Bosnia

Serbia

Croatia

Macedonia

Of the face of it, the Scots ought to be able to figure out a way to print passports and the rest of it.

I hope once you might add to your list: IRELAND. It's a shame to keep that country occupied! UK should leave the EU unless they give back Northern Ireland to the IRISH, named REPUBLIK OF IRELAND !!!

[sandyf]

The slide in GBP being related to the Scottish vote is media hype. It is the result of a sudden rise in the dollar index. The Euro and Gold have also experienced similar declines.

All we need is a another set of bad figures from the US and it all goes the other way, nothing out of the ordinary just cyclic.

[dennisrobertpell]

All paper money is doomed...Gold and Silver before its to late.

[anon676545345]

Partial list of countries that have successfully, if not always peacefully, separated from a union with other countries:

USA

Canada

Australia

Eire

Latvia

Lithuania

Estonia

Ukraine (although apparently not irreversibly)

Kazakhstan

Uzbekistan

Outer Mongolia

Norway

Finland

Iceland

Greenland

Slovakia

Czech Republic

Poland (more than once)

German Democratic Republic (since reversed)

Every country in South America

Taiwan (de facto, if not de jure)

All countries of sub-Saharan Africa

All of the Caribbean countries

The Philippines (twice)

South Korea

Hungary

Austria

Bosnia

Serbia

Croatia

Macedonia

Of the face of it, the Scots ought to be able to figure out a way to print passports and the rest of it.

I hope once you might add to your list: IRELAND. It's a shame to keep that country occupied! UK should leave the EU unless they give back Northern Ireland to the IRISH, named REPUBLIK OF IRELAND !!!

The topic is about the effect on GBP if Scotland leaves the UK, no one cares about the rainy, bankrupt dump you hail from.

[drb]

Firstly the vote is going to be TIGHT so no one really knows the answer mate

major British companies who have offices either regional or H/O in Scotland are taking a major know and all major companies in Scotland are also seeing the value their shares tumble

This is what is causing major problems for the pound !!!!

The world economy geeks are seeing problems if the vote goes as a YES this the problems we are seeing

Bear this in mind.............

ALL companies as above WILL be trying to persuade employees to vote NO and will be spreading the word about closures if the vote goes YES this will have desired effect of narrowing the gap between yes and no but all still lies in the balance

personally I think it will be close but the NO will win through.

YES the pound will for a while struggle BUT not for too long it will after closures gain strength and return to its position OK now its low as the markets fear a yes and what outcomes will materialize BUT it will recover no doubt on that

NO UK will NOT take on any debts quite the opposite if the yes vote prevails then you will see a much harder stance and Westminster will start implementing rules and regulations that will scare the pants of all those who voted yes all UK industry and institutions will move south of the border causing problems up north there will NOT be any Bank of England rescue or Guarantees for Scottish economy it would mean a new currency for the Scot's that's for certain

In the future watch this space because UK WILL vote to leave Europe THAT'S FOR SURE and UK will then be in its age old position of trading freely with the world then watch as the pound gains strength and pound vs the baht rockets but that's not for a while yet

Don't get too hung up on your exchange rate OK its lower that it was but its still hovering above 50 or 51 I have in past been happy at around 46 Baht to UK pound

If you need some dosh just change what you need for now after the NO wins the rate will go up

The rate will improve once dare I say those idiots north of the border get off a grip and realise they will be in major difficulties without Westminster

Here endeth the lesson !!!!!!!!!!!!!!!!!!!!

[ATF]

I hope once you might add to your list: IRELAND. It's a shame to keep that country occupied! UK should leave the EU unless they give back Northern Ireland to the IRISH, named REPUBLIK OF IRELAND !!!

Occupied by what? Dole spongers? Around half the population of Ireland works in England. The Capital of the Republic is Kilburn. Whereas Northern Ireland is prosperous because it's governed by Westminster.

After years of terrorism Tony Blair for all his sins just paid off Paisley and Adams and hey presto! Peace.

Do you really think Cameroon is going to self destruct the Labour Party and do himself out of a job? Wait and see.

Check out the bookies odds on Scottish Independence. They know a lot more than the pollsters.

[sawadee1947]

I hope once you might add to your list: IRELAND. It's a shame to keep that country occupied! UK should leave the EU unless they give back Northern Ireland to the IRISH, named REPUBLIK OF IRELAND !!!

Occupied by what? Dole spongers? Around half the population of Ireland works in England. The Capital of the Republic is Kilburn. Whereas Northern Ireland is prosperous because it's governed by Westminster.

After years of terrorism Tony Blair for all his sins just paid off Paisley and Adams and hey presto! Peace.

Do you really think Cameroon is going to self destruct the Labour Party and do himself out of a job? Wait and see.

Check out the bookies odds on Scottish Independence. They know a lot more than the pollsters.

Occupied by what? Dole spongers? . Occupied by stubborn UK dick heads.

[paddyjenkins]

Paul Krugman wrote about the referendum in the New York Times, he a Nobel prize winning economist. He points out the huge risk Scotland will be taking in going it alone. Scotland won't be the equivalent of Canada, it will be more like Spain without the sunshine, a bankrupt country with 40% unemployment. Perhaps Argentina will be a better analogy. He finds it mind boggling that Scots would be going for this and doubts the majority understand the risks. I totally agree. Of course in the short term the GBP will be volatile, but my guess is the UK will come out a lot stronger over time and the pound will recover. I am shorting the pound, but only as a trade, to make it a bit of money as I watch it plunge. But long term, if Scotland wishes to go it alone, have no currency of their own, default on their debt, be cut out from doing business with their biggest trading counterpart by far, become estranged from their partner of 300 years, lose their subsidies, lose their disproportionate political say, then up to them. They will have forever to regret as there will be no going back. To do this so soon after the financial crisis, when forces such as China, Russia and Islamic extremism are such huge threats, when we all need union and strength in numbers, really is mind bogglingly stupid.

Totally agree. It is absolutely nuts. They are in for a bit of a shock if they vote yes. As for the £, I feel it will strengthen without them, this is just a short term blip while people such as yourself make money off the uncertainty. I wish i had shorted too, but I had no idea how damn close to a stupid Scottish decision we would come. That said, I keep half my money in USD so maybe I could switch that back to GBP if it drops a little further.

....

...

It's just stupid, makes no more sense than, say, Cornwall or Yorkshire saying they want independence because 1000 years ago of whatever. they used to be an individual kingdom with their own king, it's just the same. The politics of nationalism are rarely intelligent and all this is just ugly, mindless nationalism. It's not as if the UK is some kind of dictatorial over lord, they get more say than the English and receive considerable subsidies and still have nothing but contempt and complaints? If England was so bad do the Scots think they would allow a referendum in the first place. If they wanted independence to go against hundreds of years of happy union and shared values, then why not at least do she proper homework, like figure out what currency they will have. The very fact Salmond has threatened default is a sigh of what this man really is and a Scotland under him and his nationalistic ilk will not be a good place to be,

About shorting the pound, I just joined in once it started to collapse a few days ago. I didn't know about the referendum results either, I just followed the momentum. So I've been shorting every morning, closing my position later in the day, selling the next bounce etc. so far it's been damn easy money.

Edited September 9, 2014 by paddyjenkins

[paultilling]

Little is mentioned of the rest of the UK being partly governed by 49 very left wing Scottish MPs.

Should the 'Yes' movement actually get their independence Scotland would be governed to a wholly left wing agenda inevitably suppressing the remaining businesses with higher taxes and bigger spending, rather like the French under president Hollande. We all know where that is leading.

Meanwhile the rest of the UK would be relieved of this leftish yoke and be free to recover from this awful mess.

However I believe when they get to 'the wire' reason will prevail over mindless nationalism.

[sawadee1947]

Partial list of countries that have successfully, if not always peacefully, separated from a union with other countries:

USA

Canada

Australia

Eire

Latvia

Lithuania

Estonia

Ukraine (although apparently not irreversibly)

Kazakhstan

Uzbekistan

Outer Mongolia

Norway

Finland

Iceland

Greenland

Slovakia

Czech Republic

Poland (more than once)

German Democratic Republic (since reversed)

Every country in South America

Taiwan (de facto, if not de jure)

All countries of sub-Saharan Africa

All of the Caribbean countries

The Philippines (twice)

South Korea

Hungary

Austria

Bosnia

Serbia

Croatia

Macedonia

Of the face of it, the Scots ought to be able to figure out a way to print passports and the rest of it.

I hope once you might add to your list: IRELAND. It's a shame to keep that country occupied! UK should leave the EU unless they give back Northern Ireland to the IRISH, named REPUBLIK OF IRELAND !!!

The topic is about the effect on GBP if Scotland leaves the UK, no one cares about the rainy, bankrupt dump you hail from.

oh, I can see it's hurt you that you lose a lovely area for holidays (Scotland). If you treated the Scots right they would not vote for YES. Look at your comment, your words are disgusting. And of course your Pound will depreciate, which will have an impact on property prices, banking, GDP aso.

[anon676545345]

Partial list of countries that have successfully, if not always peacefully, separated from a union with other countries:

USA

Canada

Australia

Eire

Latvia

Lithuania

Estonia

Ukraine (although apparently not irreversibly)

Kazakhstan

Uzbekistan

Outer Mongolia

Norway

Finland

Iceland

Greenland

Slovakia

Czech Republic

Poland (more than once)

German Democratic Republic (since reversed)

Every country in South America

Taiwan (de facto, if not de jure)

All countries of sub-Saharan Africa

All of the Caribbean countries

The Philippines (twice)

South Korea

Hungary

Austria

Bosnia

Serbia

Croatia

Macedonia

Of the face of it, the Scots ought to be able to figure out a way to print passports and the rest of it.

I hope once you might add to your list: IRELAND. It's a shame to keep that country occupied! UK should leave the EU unless they give back Northern Ireland to the IRISH, named REPUBLIK OF IRELAND !!!

The topic is about the effect on GBP if Scotland leaves the UK, no one cares about the rainy, bankrupt dump you hail from.

oh, I can see it's hurt you that you lose a lovely area for holidays (Scotland). If you treated the Scots right they would not vote for YES. Look at your comment, your words are disgusting. And of course your Pound will depreciate, which will have an impact on property prices, banking, GDP aso.

It won't have much effect on GBP Scotland won't default on it's share of the national debt, there's a lot of political wrangling about Scotland being cut off from using sterling if they vote yes but it probably won't happen even if it did they'd most likely peg their currency to the pound at least until they decide to use the Euro. The Scots will do just fine on there own after the initial teething problems, they've made a disproportionately large contribution to Britain's cultural and economic history over the last few centuries, which weather you like it or not has shaped the world we live in today.

As for it affecting my holiday's to Scotland as much as I'll miss the opportunity to fly 12 hours from Thailand to soak up a bit of rain I'll manage. As for my "disgusting" (sic) comment about the republic of Ireland being a rainy, bankrupt dump, well it does rain a lot and you are bankrupt.

[bkk_mike]

Four scenarios:

1. No vote and pound strengthens

2. Yes vote and Scotland goes it's own way with its own currency and pays it's it's debts then pound strengthens hugely

3. Yes vote and Scotland goes it's own way with its own currency but defaults on its debt than the pound falls

4. Yes vote and Scotland becomes independent but keeps pound in a union with the UK and pays it's debts then pound stays in a range

3. should read. Yes vote and Scotland goes it's own way with it's own currency but chooses not to take on debts in a currency that they're not being allowed to use.

Legally speaking, Scotland would technically be a NEW country, with no debt. It is offering to take on a share of debt if there is a currency union, but as a new country, it has no debt, and so not taking on UK debt is NOT a default.

There's a reason Deutsche Bank today said that after a yes, Scotland would hold all the cards when it comes to the negotiations.

[bkk_mike]

I hope once you might add to your list: IRELAND. It's a shame to keep that country occupied! UK should leave the EU unless they give back Northern Ireland to the IRISH, named REPUBLIK OF IRELAND !!!

Occupied by what? Dole spongers? Around half the population of Ireland works in England. The Capital of the Republic is Kilburn. Whereas Northern Ireland is prosperous because it's governed by Westminster.

After years of terrorism Tony Blair for all his sins just paid off Paisley and Adams and hey presto! Peace.

Do you really think Cameroon is going to self destruct the Labour Party and do himself out of a job? Wait and see.

Check out the bookies odds on Scottish Independence. They know a lot more than the pollsters.

I think you'll find even the bookies admit more money is being bet on Yes in Scotland (maybe partly because the odds looked too good to not take a punt back when it was 15/2). It's people in England who've been betting on No.