These countries have all been allowed to be part of the Sterling Zone.
Can I ask Mr Osborne... do we smell, or something?
 |
| Gideon George Oliver Osborne or GO as we like to call him |
Federation of South Arabia,
Sudan,
Australia,
The Bahamas,
Bahrain,
Bangladesh,
Barbados, Lesotho Basutoland,
Bermuda,
Botswana,
British Antarctic Territory,
Guyana,
British Guiana
Belize British Honduras,
British Indian Ocean Territory,
Solomon Islands,
British Somaliland Protectorate (left in 1964),
British Virgin Islands, Brunei,
Burma (left in 1966),
Cayman Islands,Dominion of Ceylon Ceylon (Sri Lanka),
Cyprus,
Egypt (left in 1947),
Falkland Islands,
Fiji,
The Gambia,
Ghana,
Gibraltar,
Tuvalu Gilbert and Ellice Islands (Kiribati and Tuvalu),
Hong Kong,
Iceland,
Republic of Ireland (until 1971),
India (including Sikkim),
Iraq (left in 1959)
Jamaica,
Jordan,
Kenya,
Kuwait
Anguilla, Antigua and Barbuda, Montserrat, Saint Kitts and Nevis Leeward Islands (comprising Anguilla, Antigua and Barbuda, Montserrat, and Saint Kitts (Saint Christopher and Nevis))
Libya (expelled in 1971)
Malawi,
Malaysia,
Maldives Maldive Islands,
Sudan,
Australia,
The Bahamas,
Bahrain,
Bangladesh,
Barbados, Lesotho Basutoland,
Bermuda,
Botswana,
British Antarctic Territory,
Guyana,
British Guiana
Belize British Honduras,
British Indian Ocean Territory,
Solomon Islands,
British Somaliland Protectorate (left in 1964),
British Virgin Islands, Brunei,
Burma (left in 1966),
Cayman Islands,Dominion of Ceylon Ceylon (Sri Lanka),
Cyprus,
Egypt (left in 1947),
Falkland Islands,
Fiji,
The Gambia,
Ghana,
Gibraltar,
Tuvalu Gilbert and Ellice Islands (Kiribati and Tuvalu),
Hong Kong,
Iceland,
Republic of Ireland (until 1971),
India (including Sikkim),
Iraq (left in 1959)
Jamaica,
Jordan,
Kenya,
Kuwait
Anguilla, Antigua and Barbuda, Montserrat, Saint Kitts and Nevis Leeward Islands (comprising Anguilla, Antigua and Barbuda, Montserrat, and Saint Kitts (Saint Christopher and Nevis))
Libya (expelled in 1971)
Malawi,
Malaysia,
Maldives Maldive Islands,
 |
| Couldn't happen to a nicer bloke. |
Malta,
Mauritius,
Oman Muscat and Oman (Sultanate of Oman),
Nauru ,
New Zealand (including, Cook Islands, Niue, and Tokelau Islands),
Nigeria,
Israel British Mandate for Palestine (required to withdraw in 1948),
Pakistan,
Papua New Guinea,
Pitcairn Islands,
Qatar,
Rhodesia (Zimbabwe) (expelled in 1965),
Saint Helena, Tristan da Cunha,
Seychelles,
Sierra Leone,
Singapore ,
South Africa,
Namibia South West Africa (Namibia),
Swaziland,
Tanganyika,
Tonga ,
Trinidad and Tobago,
Oman Trucial Oman (United Arab Emirates),
Turks and Caicos Islands,
Uganda,
The Channel Islands,
Mauritius,
Oman Muscat and Oman (Sultanate of Oman),
Nauru ,
New Zealand (including, Cook Islands, Niue, and Tokelau Islands),
Nigeria,
Israel British Mandate for Palestine (required to withdraw in 1948),
Pakistan,
Papua New Guinea,
Pitcairn Islands,
Qatar,
Rhodesia (Zimbabwe) (expelled in 1965),
Saint Helena, Tristan da Cunha,
Seychelles,
Sierra Leone,
Singapore ,
South Africa,
Namibia South West Africa (Namibia),
Swaziland,
Tanganyika,
Tonga ,
Trinidad and Tobago,
Oman Trucial Oman (United Arab Emirates),
Turks and Caicos Islands,
Uganda,
The Channel Islands,
 |
| So tell us, what have they all got that we don't have? |
The Isle of Man,
Samoa,
Dominica, Grenada, Saint Lucia, Saint Vincent and the Grenadines Windward Islands (comprising Dominica, Grenada, Saint Lucia, and Saint Vincent and the Grenadines),
Zambia,
Zanzibar,
Samoa,
Dominica, Grenada, Saint Lucia, Saint Vincent and the Grenadines Windward Islands (comprising Dominica, Grenada, Saint Lucia, and Saint Vincent and the Grenadines),
Zambia,
Zanzibar,
What they've got that we don't got? INDEPENDENCE! Once we've voted for that, they'll be falling over themselves to offer us a currency union.
ReplyDeleteI still say f* ck'em.
Eck
Yep, I know Eck... I don't think any serious commentator thinks they actually mean this.
DeleteI guess that means that the opposition, Ed Balls, is not a serious commentator!!!
Tris
ReplyDeleteI think a lot of those countries peg themselves to the dollar, a lot of faith in the pound then. I know Ghana is pegged to the dollar and laughter at the suggestion of the pound when they discovered their oil 5 years ago.
Bruce
Yes, Bruce. The pound is no longer what it used to be.
DeleteAnd you are probably safer in the world to peg your currency to the dollar or the Euro. A great swathe of Africa, which used to used to be pinned to the franc francais, is now pinned to the Euro.
I've the impression that the pound has been something of a laughing stock since the days of the ERM, when Lamont insisted , for reasons of pride, in equating it with the value of the German mark. We all know what happened, and how everyone suffered for that, with interest rates being pushed up and up to support the value of a currency which was more escudo than mark.
But all I'm saying here is that over the years the UK has been fine about all these countries using or being pinned to sterling. Why does it take such issue with Scotland?
And how many of them shared the UK debt?
They must REALLY hate us.
"So tell us, what have they all got that we don't have?"
ReplyDeleteSelf respect.
Well said that man!
DeleteI cannot understand why Labour had to come out with their statement unless Balls wanted to live up to his name. What was the urgency and could they not have waiting for the reaction to Osborne's statement. Could it be that they wanted to appeal to the voting majority in England and taking the traditional votes in Scotland for granted?
ReplyDeleteWhen you think of the comments made by some - okay, one - of your correspondents it looks as if the latter is quite secure despite Milliband, Lamont, Baillie etc etc!
You have to stop thinking of Labour as a different party from the Tories.
DeleteThere is only one party in the UK, The Westminster Party.
Ordinary members of the different branches of The Westminster Party simply haven't realised they are unwitting members of a great charade.
Confirmed by the intervention of the head of the civil service showing that the partys dance to his direction which come from the City of London and its backroom boys.
DeleteIf I'd been Labour I'd have let George take the risk and see how the natives took it.
DeleteHe could have put off making any statement for a few days...
Now they hare both unpopular in Scotland...
And no one gives a damn what Beaker says. He's gone!
Umm ! Malcontents
ReplyDeletethere is something quite unedifying in watching
all the nats crawling on there belly like snakes
with long yeller streaks down there back.
squalling and whining for the use of the English pound .
seems to me the only man amongst you is Arbroath,
silly as a sheep she usually is.
On this she got it right saying stick the English pound
up yer English erse and we will have a Scottish pound.
All you lot are doing is confirming the
snp economic credibility(ha ha )
is dependent on the English pound
and continuing Westminster oversight of
the Scottish peoples.
time for you lot to fold up yer
raggy tents and march on to
different ground.
One hears Salmond is heading
this way after realising he has lost
this one.And is being seen as sore loser.
ReplyDeleteFROM: N
ICK
MACPHERSON
DATE: 11 FEBRUARY 2014
CHANCELLOR OF THE EXCHEQUER
cc Chief Secretary
SCOTLAND AND A CURRENCY UNION
I attach a paper by Treasury officials
,
Scotland Analysis: Assessment of a
sterling currency union.
I agr
ee with its analysis and conclusions.
Currency unions between sovereign states are fraught with difficulty. They
require extraordinary commitment, and a genuine desire to see closer union
between the peopl
es involved. As the Treasury paper
point
s
out, t
he great
thing about the sterling union between Scotland, Wales, Northern Ireland and
England is that it has all the necessary ingredients: political union, economic
integration and consent. What worries me about
the Scottish Government’
s
putative
currenc
y
union is that it would take place against the background of a
weakening union
between the two countries
, running counter to the direction
of travel in the eurozone
.
I would advise strongly against a currency union as currently advocated
, if
Scotland we
re to vote for independence
. Why?
First, the Scottish Government is still leaving the option
open
of moving to a
different currency option in the longer term. Succes
sful currency unions are
based on the
near universal
belief that
they are irreversible
.
Imagine what
would have happened to Greece two years
ago
if they had said they were
contemp
lating reverting to the Drachma
.
Secondly
, Scotland’s banking sector is far too big in relation to its national
income, which means that there is a very real risk th
at
the continuing
UK
would end
up
bearing most of the liquidity and solvency risk which it creates.
Thirdly
,
there is the problem of asymmetry. The continuing UK would be at
risk of providing taxpayer support to the Scottish financial sector and
sovereign
. An independent Scottish state would not face the same risk as it is
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/279460/Sir_Nicholas_Macpherson_-_Scotland_and_a_currency_union.pdf
ReplyDeleteNot in your bed yet?
DeleteCH
DeleteNah ! just checking out the bed
for Alex salmond
made for himself and now finds he has
got to lay upon whilst we all laff at him
Niko. All the papers that the UKOK lot have delivered, by Cabinet Minister, prepared by Whitehall departments have said that Scotland is too wee, too poor and far too stupid to go it alone.
DeleteSome ministers, not surprisingly since they are Tories, have been quite blunt. Hammond for example said that no one would want to be in a Scottish army because there would be nothing to do except have your photograph taken by American Tourists (where did this idiot get off... American tourists were superseded years ago by Japanese, then Artab, and now Chinese tourists with more money than Charlie Wales, and better cameras that Lard Litchfield.
You don't seriously think they told their departments to produce a paper that found anything to praise in Scotland do you?
In any case, why would anyone listen to anything the British Treasury experts say? They were the ones that didn';t see the crash coming till the week after it came. If you want experts on economics you don't go to the Civil Service.
You go to universities, to Nobel Prize winners, to people who can write books on economics.
Seriously, the Treasury knows squat about it, and Gideon has a degree in history!
STERLING
ReplyDeleteALBION
A proposal
An independent Scottish government
would best serve its citizens by
remaining on sterling for the time
being. Representation on the Bank of
England’s Monetary Policy Committee
is not important and Scotland does
not have to avail itself of the other
central bank services and restrictions
of the Bank of England. Scotland
should continue to allow local private
note-issue, but eliminate the 100
per cent marginal sterling reserve
requirement.
Of course, it should allow the
public to have bank accounts and
currency in euros, dollars or Swiss
francs if they wish. Then, should the
pound sterling weaken substantially
in the future, free choice in currency
would allow for a spontaneous
transition to whatever currency
standard the public then prefers •
Makes sense.
DeleteCynical Highlander, here here.
DeleteHey Niko, not gone yet, or are you waiting on a YES vote so you can petulantly fold up your tent.
ReplyDeleteSon away and read the WEE ginger dug and pay particular attention to his last sentence.
I would also say stop using up valuable commenting space with the drivel that comes out of your head, I am sure NOBs can use you.