Forum Message

Topic: Re:Currency Union
Posted by: Andy Rooney
Date/Time: 03/09/14 13:42:00

The punt ceased to pursue parity with sterling when it joined the European Monetary System at its inception in 1979.  Prior to that Ireland had been suffering inflationary pressure as a result of being tied to the pound during the UK's high inflation period in the 70s, and had been exploring other ways of escaping this influence before EMS came along.

That experience is reasonably applicable to Scotland too.  There's nothing Westminster can reasonably do to stop Scotland keeping the pound - just as the US dollar is de facto currency in many places whether Washington likes it or not - but the price of doing so without a formal agreement is giving up any influence on interest rates and the money supply. 

In the same way Scotland could in principle decide unilaterally that the Euro would be its currency, but it would have to buy the notes and coins to put into circulation, presumably for sterling, and it would be handing over control of rates and the money supply to the ECB. 

Entire Thread
TopicDate PostedPosted By
Currency Union02/09/14 22:57:00 Anne England
   Re:Currency Union02/09/14 23:02:00 Huw Burford-Taylor
      Re:Re:Currency Union02/09/14 23:07:00 Pete Mayes
         Re:Re:Re:Currency Union02/09/14 23:07:00 Pete Mayes
      Re:Re:Currency Union02/09/14 23:10:00 Anne England
         Re:Re:Re:Currency Union03/09/14 08:25:00 Susan Kelly
            Re:Re:Re:Re:Currency Union03/09/14 08:41:00 Huw Burford-Taylor
               Re:Re:Re:Re:Re:Currency Union03/09/14 08:48:00 Andrew Cumming
                  Re:Re:Re:Re:Re:Re:Currency Union03/09/14 09:47:00 Andrew Cumming
                  Re:Re:Re:Re:Re:Re:Currency Union03/09/14 10:10:00 Anne England
                     Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 10:24:00 Andrew Cumming
   Re:Currency Union03/09/14 09:50:00 Richard Greenhough
      Re:Re:Currency Union03/09/14 10:03:00 Huw Burford-Taylor
         Re:Re:Re:Currency Union03/09/14 10:09:00 Vanessa Smith
            Re:Re:Re:Re:Currency Union03/09/14 10:26:00 Andrew Cumming
               Re:Re:Re:Re:Re:Currency Union03/09/14 11:26:00 Anne England
               Re:Re:Re:Re:Re:Currency Union03/09/14 12:24:00 Anne England
                  Re:Re:Re:Re:Re:Re:Currency Union03/09/14 12:36:00 Andrew Cumming
                     Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 12:57:00 Anne England
                        Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 13:00:00 Andrew Cumming
            Re:Re:Re:Re:Currency Union03/09/14 12:04:00 Richard Greenhough
         Re:Re:Re:Currency Union03/09/14 10:11:00 Ann Williams
            Re:Re:Re:Re:Currency Union03/09/14 10:13:00 Anne England
               Re:Re:Re:Re:Re:Currency Union03/09/14 10:22:00 Keith Iddon
               Re:Re:Re:Re:Re:Currency Union03/09/14 10:30:00 Sam Hearn
                  Re:Re:Re:Re:Re:Re:Currency Union03/09/14 10:34:00 Susan Kelly
                     Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 10:50:00 Sam Hearn
                  Re:Re:Re:Re:Re:Re:Currency Union03/09/14 10:42:00 Andrew Cumming
                     Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 10:53:00 Andrew Craig
                        Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 10:58:00 Colin Jordan
                           Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:07:00 Andy Pease
                              Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:13:00 Andrew Cumming
                                 Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:15:00 Huw Burford-Taylor
                                    Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:18:00 Andrew Cumming
                                       Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:25:00 Huw Burford-Taylor
                                          Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:34:00 Andrew Cumming
                                             Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:38:00 Anne England
                                                Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:40:00 Andrew Cumming
                                          Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 12:07:00 Richard Greenhough
                                    Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:52:00 Andrew Craig
                                       Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 11:59:00 Andrew Cumming
                                          Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 12:23:00 Ann Williams
                                             Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 12:26:00 Anne England
                                                Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union05/09/14 10:09:00 Anne England
                                                   Re:rUK - alternatives05/09/14 10:28:00 Richard Greenhough
                                          Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 12:26:00 Michael Robinson
                                             Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Currency Union03/09/14 13:36:00 Richard Greenhough
                                             Re:Currency Union03/09/14 13:42:00 Andy Rooney
                                                P.S: Re: Ireland and punt vs pound03/09/14 13:54:00 Andy Rooney
                                                   Re:P.S: Re: Ireland and punt vs pound05/09/14 10:50:00 Rob Reynolds
                                                      Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 10:56:00 William Luckman
                                                      Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 11:22:00 Andrew Cumming
                                                         Re:Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 11:31:00 Anne England
                                                            Re:Re:Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 12:05:00 Rob Reynolds
                                                            Re:Re:Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 12:22:00 Andrew Cumming
                                                               Re:Re:Re:Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 12:32:00 Guy Lambert
                                                                  Re:Re:Re:Re:Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 13:15:00 Michael Robinson
                                                                     Re:Re:Re:Re:Re:Re:Re:P.S: Re: Ireland and punt vs pound05/09/14 13:27:00 Guy Lambert

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