Search results

In practice I think there is insufficient critical mass and you can't base an economy on the possible goodwill or as Salmond would hsve it, dependancy, of a much larger neighbouring economy. His whole argument is based on taking advantage of the English/N.Irish/Welsh economies where it suits...

In practice I think there is insufficient critical mass and you can't base an economy on the possible goodwill or as Salmond would have it, dependancy, of a much larger neighbouring economy. His whole argument is based on taking advantage of the English/N.Irish/Welsh economies where it suits...

Indeed but with a currency which is isolated and almost unsupported (your GDP reference) there will be limited ability to attract competitive loans. When the next government pulls the defence projects and the scots close nuclear bases their economy could very easily implode.

The difference is that the scottish pound will not be underwritten by the bank of England which will give them serious problems with sourcing essential borrowing at competitive rates. Except in the very short term it could be unsustainable for a fledgling economy