h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

>>S&P seem to be saying Scotland will be rated AAA,<<

The ratings agencies seem to be getting further from the planet Earth every week. Scotland has no currency, foreign reserves, income (we know it will have tax but we don't know what the rates will be) or even an indication of how much it will want to borrow!

But as Jasshag prefaced this: Both sides seem to me to be insulting the voters intelligence.

And I would say the press especially culpable.

I've just got back from walking around Motherwell town centre and was pleasantly surprised at how quiet it was; apart from the Socialist Worker Party stall, there was no campaigning going on at all. Presumably the two camps have called in all their troops for a big day in Glasgow (where all the television cameras and journalists will be). The rest of us were getting on with our normal humdrum lives. Which, possibly, gives some perspective on the current news stories about abuse from nationalists, consequent abuse on Twitter from nationalists and then further stories about nationalists abusing journalists on Twitter.

The nationalisation of the major players in the Scottish oil fields will be expensive.
This appears to be an up to date list of the companies involved.

BP UK
Not based in the UL
Wood OIL owner The Wood family - Scottish
Dana OIL owner Korea National Oil
Cairn OIL Europe's leading independent oil and gas companies.

Refining Companies
Ineos stated losses would force it to shut the petrochemical plant and could also threaten the future of the 210,000 barrel-per-day refinery, Scotland's only refinery which provides 70% of Scotlands fuel. Ineos has said the complex was losing 10 million pounds per month. Ineos (a Swiss company) stated it would invest 300 million pounds in the site to cover losses.

The Scottish government has agreed to provide a 9 million pound grant to support Grangemouth, and the British government has given initial approval for a 125 million pound loan guarantee, Ineos said. The loan would contribute to the shareholders' 300 million pound investment.

It appears the future of the oil reserves is limited.

Wow! We're going to nationalise the oil industry!!!!!!!!!!!!!!!

said no-one in the debate, ever.



Also, nobody says France isn't independent because they have the same currency as Germany, and essentially having their monetary & fiscal policy influenced heavily by Germany. We live in an interconnected world, deal with it.

By any definition of the word France is not indepedent. Just think about what the word actually means. No. France is not an independent country. It chose to give up independence with regard to monetary policy when it started to use the Euro.

Yes, we live in an interconnected word, but that isn't the same thing at all.

Every country is influenced by others, but you can choose to plough your own furrow. It is often futile and leaves you isolated. In a monetary union with the UK Scotland would not be independent. And it would almost certainly be the junior party in any monetary policy too.

PP.

Nationaisation has been threatened by the yes party as have sanctions against companies who are unhappy with a separate Scotland.

If France is not independent because it uses the euro. Then if Scotland uses the euro or the pound then it will not be independent.

Then the whole thing is a waste of time unless it issues its own currency.

Quote....."Then the whole thing is a waste of time unless it issues its own currency"

It does have it's own currency, the Scottish pound, we have had that as long as I can remember,

In fact, I seem to remember many years ago having a slight confrontation with a counter assistant, when I bought a packet of fags at a London railway station, he thought he could short change me?

It soon got sorted, when he saw things my way

Smudger.

BTW, I voted today, for the first time in years

but the Scottish pound is just a British pound (eg. backed by the Bank of England and "controlled" by British government fiscal and the BoE monetary policies) with a different design. Isn't it?

So they will have to get a new currency

There are 3 'Scottish' banks who issue bank notes.

Clydesdale. Owned by an Australian Bank.
Bank of Scotland. Owned by Lloyds PLC.
Royal Bank of Scotland. Ex-basket case bailed out by the government (of the UK and effectively owned by the government on our behalf).

None of the notes issued by these banks is legal tender, but in Scotland are widely accepted as 'money'.

It doesn't seem to me that any of these would be suitable central banks for Scotland being owned by Aussies, The Government or shareholders and pension funds around the world.

Perhaps the new government of Scotland's first act will have to be to nationalise The Clydesdale.

PP.

It's all over now..but electioneering will continue until next May..

Quite a good result all round, as every one in Wales and Ireland and England, as well as Scotland, will gain more control on running their own part of the country.

Smudger.

Good point everyone gains a little from this

Do they?

Every country in the UK wants more democracy and more money - or more control of the money.

But democracy is rather an expensive thing to have. And where is all the extra money coming from?

PP.

Yes but only on a more control of the money basis

I am going to play advocate here.

Scotland wants more control over it's own destiny, yet is only 4% of the population, yet 96% of the population must be held forfeit.

Is that truly fair?

Or have I really missed the point here?

So many things just haven't added up.

I'm pleased there was no division.

I also feel that division by degree is a good idea, especially to allow an English 'Assembly' resolve it's own issues but it won't happen, because each nation (and the small n is intentional) wants it's and to eat it. None want to totally relinquish control!

At least true democracy worked. No hanging chads. No 110% in favour. No machine-gun diplomacy.

Now can all animosity be settled in the 6-Nations, where it should be settled? Roll on the Calcutta Cup!

Thank you. My diatribe is over. Good night.

MMF

Scotland accounts for 8.4% of the population and 9.5% of the economy.

Whilst part of the UK.

If trading as a separate nation, would that remain the case?

PP.

Quote......."If trading as a separate nation, would that remain the case?"

We have no industries as such any more, all that was shut down back in the nightmare of the 80s?

We should have had this referendum back in the 70s, when Scotland had a lot more to offer and trade with?

It was a great country back then, but that seems a lifetime ago now

Smudger.