Scottish Independence - In a bind over ties

[sgd]

I wonder what's going to happen to bank deposits held by scottish nationals if they cannot agree to share the british pound, the day before deposits denominated in pounds then the next day in new scottish currency if in a short time the new currency tanks or devalue gone case man.

http://uk.reuters.com/article/2014/09/10...NM20140910

[kagemusha]

its funny that people are worried. Remember we went through the same thing with separation with Malaysia.
We were in a more difficult position than the Scots.
Money would be link with the pound for the time being until a monetary authority is setup.
Same as defense, they will still be part of the Commonwealth and under protection from Nato, so they can take their time to build up their military.

[sgd]

if they break britain's nuclear membership on UN security council is a big question mark already, all their trident nukes that are located in scotland mainland will have to be relocated.

the scots will want to join european union for obvious benefits but the british will likely block them unless they can nego scots allow the nukes to remain in exchange for using the pound and britains support for scotland to join the EU

[specuvestor]

Scotland won't have a say in the pound. They however can continue to use the pound as their currency but lose monetary control (just as other countries dollarises and uses the USD) which will be a bit ironic. Or they can have a currency peg like Brunei $ is actually pegged to SGD, which many are unware, or a currency board like HK

Just a sidenote: This article is confusing pegging with "Legal Tender" http://www.bt.com.bn/bookmarks/2013/10/0...y-peg-stay

Singapore separation is quite a mini miracle story that sometimes we take for granted. The separation of East Timor or Palestinian state may be another reference point. Or consider if the former Soviet Republics had it better. This is probably quite different from the days of the imperialist break-up. Maybe Yugoslavia breakup was for the better due to ethnic tensions.

[kagemusha]

I would not say that I took SG independence for granted.
Not every break up ends up happy like we did.
But Scotland is no East Timor or Palestinian or Yugoslavia either.
It is a first world nation. It will be administration upheaval, I grant you that, but it is not a nation with nothing, or in turmoil.

[greengiraffe]

http://www.bloomberg.com/news/2014-09-18...lance.html

Scotland Votes Against Independence in Referendum, BBC Projects
By Dara Doyle and Ian Wishart Sep 19, 2014 12:41 PM GMT+0800 67


Photographer: Simon Dawson/Bloomberg
An anti-independence Better Together campaigner holds a sheet of stickers reading "Vote No" during a demonstration in Edinburgh, U.K.

Photographer: Chris Ratcliffe/Bloomberg
Pro-independence "yes" campaign supporters wave Scottish flags during a demonstration at George square in Glasgow on Sept. 18, 2014.

Photographer: Andy Buchanan/AFP via Getty Images
Ballots are counted at the Emirates Sports Arena in Glasgow on Sept. 18, 2014, after the polls close in the... Read More

Photographer: Jeff J Mitchell/Getty Images
Yes supporters gather in George Square hours befor polling stations will close in the Scottish independence... Read More

Photographer: Simon Dawson/Bloomberg
An official counts ballot papers for the Scottish independence referendum at the Royal Highland Center in Edinburgh,... Read More
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Scotland rejected independence in a referendum, with the campaign to keep the country in the U.K. prevailing by a wider margin than predicted in the most recent polls, according to BBC projections.

With 26 of Scotland’s 32 local authorities declared, the Better Together camp backed by Prime Minister David Cameron and the main U.K. parties had garnered 54 percent of the vote, while the “yes” campaign led by Scottish National Party leader Alex Salmond had 46 percent.

“The evidence that the ‘no’ side is going to win is beginning to stack up,” said John Curtice, professor of politics at Strathclyde University. The result in Glasgow “adds further weight that the ‘no’ side has won the referendum and won it pretty comfortably,” he said.

The pound surged as counting continued of the last ballots cast across Scotland yesterday. After wins for the “no” side, support for independence in the cities of Dundee and Glasgow narrowed the overall gap. The final result is due over the next two hours from the central count in Edinburgh.

“It does look like we have secured a ‘no’ vote,” Chief Secretary to the Treasury Danny Alexander, a Liberal Democrat and the most senior Scot in the U.K. government, told Sky News as the first results trickled in. “But a ‘no’ vote is also for change, it’s our responsibility to get on with that.”

The pound climbed to a two-year high against the euro and appreciated against all 31 of its major peers. The pound traded up 0.6 percent at $1.6492 at 5:30 a.m. London time.

Two Years

The referendum is the culmination of almost two years of competing arguments over the viability of an independent Scotland, its economic well-being, currency and international standing. With a record 97 percent of Scotland’s 4.3 million-strong electorate registered to vote, overall turnout was more than 80 percent is most regions.

“I am deeply disappointed like the thousands across the country who put their heart and soul into this campaign,” Nicola Sturgeon, the deputy first minister in Scotland’s devolved government, said on BBC Television. “Our country is never going to be the same after this campaign.”

By just before 1 a.m., the boisterous “yes” rally that had reverberated around Glasgow’s George Square was becoming more subdued. Among the thinning crowd, groups had begun to relax and settle in for a long night spread out on the grass. Around the block at the Apple Store on Buchanan St, people camped out for the new iPhone release.

In Edinburgh earlier, people chanted “Scotland, Scotland” as hundreds assembled outside the Scottish Parliament building after polling closed.

“This means a change to the old order; the union’s finished, people want to build something new,” said David Thomson, 39, from the Scottish capital, his face painted in the blue and white of Scotland’s flag, the Saltire. “Even if it’s a ‘no’ victory we’ve shown we want change and that’s going to happen.”

[BlueKelah]

It's all about getting the money from the north sea oil and whiskey brewers for themselves.

Otherwise physically they are on the same island, no point really to have independence from london

[sgd]

scotland voted no to independence, will markets cheer on monday?

http://www.mirror.co.uk/news/world-news/...ic-4284826

seems like rational thinking always rule when it comes to the pocket and people's money.

am wondering about our own cpf issue that's also affecting millions of people's retirement money here and about 2016.