The Independence Referendum

[Alibi]

Although it's not actually my own preference, I think a currency union is a near-certainty. The reason is that without Scotland's oil reserves propping it up, sterling will lose value - that is the reason behind the slight jitters in the last couple of days. Osborne has painted himself into a corner, a corner that he can only get out of if there is a no vote so that his threat will never need to be tested. Why on earth do you think a prosperous Scotland would be "debt-ridden"? Have you failed to notice, incidentally, that the UK currently has nearly £1.5 trillion of debt?

scotland will continue in the EU with the whole thing being sorted before independence day. There are several reasons why we won't be kicked out, for example there is no mechanism to do so or to strip 5 million people of their European citizenship, or to repatriate the many thousands of European citizens who would lose their right to live, work or study here. scotland will not be forced to joing the Euro - see

[JRSLEFTPEG]

We have a special treat in Dumfries tomorrow . The right honourable master of the expenses Jim Murphy comes to visit our town . Hope the seagulls have a good aim.

[JRSLEFTPEG]

l hope no one says that WM are running about up here for any other reason than to save Scotland from itself . I heard some scurrilous people suggesting they were frightened about not getting their hands on the oil and that was why but I would not lower myself to that cynicism.

[rjc_1988]

The Governor of BOE mark Carney has confirmed that there is no way that an independent Scotland can become involved in a currency union. Alex Salmond needs to stop "winging"this ***** issue and come out categorically and explain what plan B is. It is ludicrous to suggest that they will retaliate by not honouring our share of the national debt. This will create carnage and there would no winners from such a strategy.

By even suggesting such a scenario it says to me that Mr Salmond is determined to get his way no matter the consequences.

For me to consider voting yes I would need the currency issue to be crystal clear so that I can rationalise the pros and cons and take a fully objective view of the way forward.

I am glad that Carney has come out categorically on this key point -not sure where the currency argument goes from here but Carney's statement is unambiguous.

[lcfc57]

The BOE governor can't stop a currency union if the two governments agree one.

[RobQos]

The Governor of BOE mark Carney has confirmed that there is no way that an independent Scotland can become involved in a currency union.

Where did he say this?

[rjc_1988]

If you google Mark Carney on BBC you should see the video clip.

I know that "turkeys voting for Xmas" is an overused phrase but if this vote goes through never will a comment be more apt.

If people ignore the respective spin from interested parties and concentrate on neutral experts like the comments coming from Nomura japanese's leading bank (and they should know the symptoms of a major recession) and Credit Suisse they would be treading a sensible path and voting NO.

Alex Salmond comments today likens the Scottish people to black South Africans emerging from the apartheid era - presumably casting himself in the role of Nelson Mandela. In the old South Africa the majority population were the victims of a cruelly oppressive regime that denied them the vote and worse.in contrast we Scots have been embraced for more than 300 years as full partners in the UK. Even now we enjoy free prescriptions and free education - ***** areas not replicated south of border.today we receive more mone

[RobQos]

You mean this bit:

"The Bank of England would implement whatever monetary arrangements were put in place."

He said that both parties entering a currency union would have to give up some sovereignty. But that they would make it work if it was agreed.

Talking of neutral experts:
"NEF doesn’t take a position on the Scottish referendum. It’s for the people of Scotland to decide their future. And while the City now appears to have woken up to the possibility of a Yes victory, it’s not uncertainty over Scotland’s future that’s troubling them.
Tucked away in the Financial Times’ report earlier in the week was the giveaway. “Currency investors” would apparently be “particularly concerned by the UK’s persistent current account deficit if this were no longer offset by North Sea oil revenues.”

And after all the scaremongering over oil for the last 2 years Press and Journal today:

"A leading oil economist has predicted a potential North Sea bonus of 99 new discoveries in the next 30 years.

[RobQos]

Financial Times

“An independent Scotland could also expect to start with healthier state finances than the rest of the UK”

“Although Scotland enjoys public spending well above the UK average – a source of resentment among some in England, Wales and Northern Ireland – the cost to the Treasury is more than outweighed by oil and gas revenues from Scottish waters”

Right now an independent Scotland would be 11% better off overnight compared to staying in the UK.

Based on the current total Scottish budget (Scottish Government and UK government) of around £64bn, that’s somewhere in the vicinity of £7 billion a year or £1,321 a year for every man, woman and child in the country.

That takes into account Scotland's contribution to the numerous infrastructure projects in London. It also takes into account our payments on UK debt despite Scotland having to work within a fixed budget.

[Dariusz]

Lots of scare mongering going on with RBS saying they moving headquarters to London if YES.

But looking beneath the surface of the scaremongering headline on the BBC website ...

RBS says it intends to keep a "significant level" of jobs north of the border. The bank has been based in Scotland since 1727.

Meanwhile Scotland's largest fund manager's boss said an independent Scotland would be a huge success.

Martin Gilbert, Chief Executive of Aberdeen Asset Management said: "I think an independent Scotland would be a big success. Most sensible people now accept that Scotland would be prosperous with either outcome in the current constitutional debate."
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But with the UK's severe debt going to cripple it in the near future my mind is now made up ... I was a NO, but having done a lot more research into the facts and I am now a definate YES.

Expect some dirty tricks in the days ahead from the NO camp.