Monday, 31 March 2014

Much Ado About Anonymous Nothing

Much Ado About Anonymous Nothing

Coalition hunts minister at centre of currency union row

Downing Street has ordered an inquiry to find the Coalition minister who went dramatically off-message by contradicting Chancellor George Osborne's insistence that sharing the currency with an independent Scotland had been completely ruled out.” (source)

I am not an economist, so perhaps, apart from purely business exchange across borders reasons, I cannot see any benefit of an independent Scotland having a formal currency agreement with Westminster to use the pound.

An informal using of the Scottish pound may help ease the transition in the early days of independence, but ultimately I think the less we have to do with the finances of a virtually bankrupt rUK, the better. There are an abundance of small countries using their own currency and doing well in the world, why this continual dance about the importance of a formal currency arrangement?

Let's be completely independent.

The minister has been quoted as suggesting that, if Britain wanted to keep its Trident nuclear deterrent at Faslane and Scotland wanted a currency union, “you can see the outlines of a deal”.(source)

As far as Trident goes, I think the only reference I've seen to actually using it as a negotiating tool is from this 'unnamed minister', and I can see how certain movers in Westminster worry about their 'big shiny toy' and will try any ploy to keep hold of their 'precious' for as long as possible. I don't really care a jot who the 'unnamed minister is, and suspect that his identity is already well known to those who do, and I suspect he or she has been (secretly) reprimanded or rewarded for following orders, or not, whatever the truth may be!

An independent Scotland will have a wealth of negotiating cards to deal, I cannot see Trident ever being used as one of them, out with what has already been proposed in the white paper.

As for a formal currency arrangement, I can live without that, why would I want to be tied to something like this: DEBTBOMBSHELL