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To: SeekAndFind

But what currency would they use? Seems unlikely that the British government would let them issue GBPs without political union. The Euro? Well, I guess that’s a possibility if they don’t mind substituting German overlords for English.


8 posted on 03/03/2014 9:46:47 AM PST by irishjuggler
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To: irishjuggler

No, they can’t use the British pound if they separate.

Nor would they be admitted into the EU any time soon.


10 posted on 03/03/2014 9:48:59 AM PST by SoothingDave
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To: irishjuggler

And with no military Russia would be exploring oil well sites right off their northern coast.


12 posted on 03/03/2014 9:54:07 AM PST by Resolute Conservative
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To: irishjuggler
They could actually use the pound without being able to issue them - Zimbabwe switched to the U.S. dollar when their own currency melted down - but it means that their monetary policies would be under British control. I doubt if that would be acceptable in the long term. The Euro is the obvious alternative but Scotland is not a member of the EU separately and Brussels would dictate monetary policy. There was a Scottish pound before the Unification Act and I believe they're still being printed, but they're capitalized by the British pound. The Irish ran a separate system until the Euro, but IIRC they kept large deposits in the Bank of England to back it.

That's about all I know from a purely amateur POV - grateful for correction by anyone with greater knowledge.

14 posted on 03/03/2014 9:58:01 AM PST by Billthedrill
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