Sunday, September 7, 2014
Borrowing costs
Scottish independence: Vote 'will go to the wire'
Borrowing cost crisis in the making..Whether Scotland takes their share of the "wasted funds" or not, they won't be paying. There is no way a socialist Scotland is ever going to willingly, or be capable of, paying anything off.
Posted by stillthinking @ 08:12 PM (2455 views)
7 thoughts on “Borrowing costs”
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libertas says:
Which is why Westminster should tell them to go stick it. Pay off your debts, or go take a hike. We already paid off debts from their banks, RBS and HBOS, etc. Salmond should be arrested for treason, and theft, frankly.
libertas says:
The big problem with the NO vote, is that no is a negative word. They should be saying YES to the Union.
khards says:
I very much doubt that Scottish borrowing costs would rise much above the UK or euro-zone compatibles – ZIRP is across the west.
New Zealand ticks along with a base rate of 3.5%, so perhaps high borrowing costs are a sign of a healthy balanced economy.
alan says:
Darling denies “NO Campaign” panic.
Says BBC
stillthinking says:
khards, I very much appreciated your tip about the bargain homes by Clacton admittedly with tidal flooding danger, and look forward to any other cheap/inexpensive suggestions, but I am sure that Scotland under what is extreme socialism will have no chance whatsoever. Every single poorly judged decision will be blamed on rump UK.
mark says:
if scotland leaves the UK, will they no longer belong to the EU, if so what will that mean ??
why is scotland so important to UK ? what is there we need ?
libertas says:
Mark, its more the uncertainty for markets that could cause a fresh banking and currency crisis just at the point where we are recovering.
Frankly, this has been badly managed. The idea that a 51% majority has mandate enough to bring the other 49% out of a 300 year Union is nonsense, particularly with the impact it has on England, Wales and N.Ireland. I believe that a 2/3 majority should be required. To achieve that, Salmond would have had to do lengthy pre-negotiations with Britain, the EU and UN to chart out a solution for defence, currency, fiscal arrangements, debt, etc. Instead, he took the irresponsible approach of threatening to default on Scotland’s portion of the debt. Just crazy, banana republic ideas that will lock Scotland from global capital markets for a decade!!
I personally believe that a default would have to involve England getting the oil reserves. If it does not, England will place tariffs on Scotland as it did on EIRE, when it defaulted on its portion of UK debt. I am sure Scotland could make it alone, but not with this chump at the steering wheel.
A no vote will instead lead to slow, progressive devolution that will also result eventually in independence, but rather, in ways that do not shock the market place, to the benefit of all folk in these British Isles.
Gosh, if this idiocy leads to the UK loosing its veto on the UN security Council, boy, Cameron will be thrown out in a minute. He should never have granted a vote on such terms.