Read this , it is what I have been saying for many months . Without Scotlands finances to assist the uk balance of payments , the debt the rest of the UK holds will be unsustainable without the correcting balance of payments factor that the Scottish economy will introduce. Without this, whats left of the UK will see a huge increase in interest payments on the vast debt they have built up over e years by financial mis management. One of the advantages Scotland will have in a monetary union strangely enough is that using Englands negative balance of payments will keep the value of the pound down , making our exports cheaper, otherwise with Scotlands assets the value of the Scottish pound will increase , making these exports more expensive. Scotland has a positive balance of payments whereas England has a negative one and it doesnt take a budding genius to realise that to survive you need to sell more than you buy.
Posted on: Tue, 01 Apr 2014 07:41:32 +0000
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