There is no need to debate economics, Westminster has categorically stated there will not be a currency union.
Scotch Independence - the countdown
- Thread starter stopmeandslapme
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There is no need to debate economics, Westminster has categorically stated there will not be a currency union.
Even assuming that's true, because politicians always keep their word, how do you get from there to increased mortgage repayments? Please show your working.
Really? You need it explaining? Do you understand how banks and lending works? You do realise that the lending you now receive from banks, in the form of mortgages, loans etc will be higher due to you having to have a new currency. If you need this explaining further I suggest using google
If a new independent Scottish currency were allowed to float freely on international markets, then millions of Scottish homeowners could eventually see their monthly payments increase due to the significant foreign exchange rate risk that they would be exposed to. They would also be exposed to the Bank of England increasing interest rates south of the border, further adding to the cost of servicing Scottish mortgage debt irrespective of the independent country’s new set of economic circumstances.
That's all well and good but interest rates don't have much impact in a place where you can buy two houses for twenty quid and get a third house free.
The key word in your post is 'could'. No one can predict the markets with any degree of certainty. There are too many variables and the economy is a classic example of chaos theory in action.
Are you suggesting Wales is a parasitical foetus leeching off the Mother England?
I think the maps upside down logic, lets face it England have been shafting Scotland for years.
You'll be fine.
Stroke of genius by the Skirt Wearers dragging this referendum out for what feels like the last 28 years. I'm sure I can't be the only English person so thoroughly bored with all things Jock that I'm now praying for you all to **** off forever.
Hey little person why are you doing the establisments dirty work for them. Did they pay you or are you just ****ing stupid?
It's far more probable for mortgages to rise in England, especially if they walk away from a generous currency union offer from Scotland. Scotland has a balance of trade surplus and a potential AAA rating.
Evidence: http://www.businessforscotland.co.uk/independent-scotland-could-be-aaa-rated-standard-poors/
There will be no evidence from the Thatcher plank.
Nope, I feel that too. I wish them all the best in their socialist utopia, and at least the evil Tories underneath their beds won't be able to get them anymore.
You're bored because you are too thick to understand anything longer than 3 sentences. I will therefore restrict myself to 2, but you still won't get it.