Osborne must accept need for currency union to calm markets

Collapse of the pound is not due to uncertainty, rather it’s predicated upon the certainty that on Scotland’s exit, iEngland will be skint

Dont Panic

by Christian Wright

The run on Sterling is a testament to the robust nature and rude health of an iScotland economy. As pandamonium ensued, in a roused twittersphere we ourselves asked:

panic 2Were Scotland a twitter 1great financial burden about to be lifted from England’s shoulders do you think Sterling would be in a nosedive? “Of course not” was the overwhelming response of #indyref’s informed twitterati.

The pummeling the pound is taking is not due to uncertainty, rather it is the discounting of the currency in the sure and certain knowledge that upon Scotland’s departure, iEngland/rUK will be a poorer state, with not only a greatly reduced GDP, but a greatly diminished per capita GDP.

The financial markets see a future where sterling is not propped-up by Scotland’s petro-dollar assets, and where an iEngland is no longer bankrolled by annual contributions from Scottish combined annual twitter 2revenues which for at least the past 32 years have exceeded expenditures in Scotland.

This collapse of the pound is dispositive evidence that the markets view Scotland as a substantial net asset to the UK, completely debunking the 20 years narrative of Scotland as an economic basket case, and Scots as indolent, feckless subsidy junkies.

Again, as we tweeted all day during the panic selling, to stem this financial collapse, Chancellor Osborne needs to concede that if YES prevails there will indeed be a currency union. He needs to do this, and he needs to do it now.

 

 

One thought on “Osborne must accept need for currency union to calm markets

  1. I find comments in newspapers a shame,or it hurts me in a strange way.People who presume that we cant run our own country,people who just say it wont work ,it’ll be a shambles how can a nation be reduced to such thoughts from its people.I asked my wife to get the Record today,so I could see how they were turning the campaign.I was not disappointed back to normal,they still put it up like its Labour versus SNP.They have no faith in us Scots to run our country and put it out to the people that we are not good enough I feel shame and anger.

Leave a Reply