Nicola Sturgeon left red-faced as independent Scotland fails EU membership test

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cancel2 2022

Canceled
There is just no way that Scotland could pass the entrance criteria without cooking the books, so listen up Septics and learn something for once!

To be considered for membership to the EU, applicant states are required to have a deficit no higher than three percent. However, the latest figures show Scotland’s deficit is now just over seven percent and rising. This means even if Scotland were to become independent it would not be allowed to join the EU.
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https://www.express.co.uk/news/uk/1...atest-news-independence-referendum-snp-eu-gdp
 
Scotland's deficit is due to it being locked into a one-way benefit system with England, you scurrilous wee maggot.
 
Havana Moon said:
There is just no way that Scotland could pass the entrance criteria without cooking the books, so listen up Septics and learn something for once!
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Technically speaking, that would be the Euro membership requirements, and not the European Union membership requirements. Most countries start by being members of the European Union, and later adopt the Euro as their currency. Scotland definitely can pass the Copenhagen Criteria, and become members of the EU.

Then they can start worrying about passing the Maastricht Treaty, and adopt the Euro. Scotland would have a lower deficit than the UK's 1.2% of GDP, so would be fine there. They might have a legacy debt that is around the UK's 85% (much higher than the 60% they need to be below). Or they can refuse to take on any debt, much like Johnson has, and therefore have 0% debt. Right there is where things get complex.
 
Walt said:
Technically speaking, that would be the Euro membership requirements, and not the European Union membership requirements. Most countries start by being members of the European Union, and later adopt the Euro as their currency. Scotland definitely can pass the Copenhagen Criteria, and become members of the EU.

Then they can start worrying about passing the Maastricht Treaty, and adopt the Euro. Scotland would have a lower deficit than the UK's 1.2% of GDP, so would be fine there. They might have a legacy debt that is around the UK's 85% (much higher than the 60% they need to be below). Or they can refuse to take on any debt, much like Johnson has, and therefore have 0% debt. Right there is where things get complex.
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So what do you imagine the Scots would use as a currency? It's by no means a given that they can continue to use the pound as they do now. They could create a Scottish pound of course but wouldn't give much for its chances as an currency on the forex markets. Ireland tried to uncouple itself from the Sterling zone and introduced the punt which nosedived almost immediately, which is why they joined the Eurozone. Of course after the 2007 crash that caused huge problems for the Irish economy, they needed to increase interest rates but ECB rules have one rate for all of the Eurozone.
 
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Havana Moon said:
So what do you imagine the Scots would use as a currency?
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I would assume that at first they would continue to use the Scottish Pound. Then they might change the currency.

But it really does not matter. They would have to get a currency separate from the Euro anyway. They cannot join the EU and the Euro on the same day, much less leave the UK, join the EU, and start using the Euro all on the same day. They would need another currency to hold them over until they joined the Euro.
 
Walt said:
I would assume that at first they would continue to use the Scottish Pound. Then they might change the currency.

But it really does not matter. They would have to get a currency separate from the Euro anyway. They cannot join the EU and the Euro on the same day, much less leave the UK, join the EU, and start using the Euro all on the same day. They would need another currency to hold them over until they joined the Euro.
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No such thing as the Scottish pound, they are part of the Sterling Zone and it's highly unlikely that the Bank of England would allow them to continue as a member. If they created their own currency then the Irish Punt would be an excellent warning as to its likely fate.

https://en.m.wikipedia.org/wiki/Irish_pound
 
Havana Moon said:
No such thing as the Scottish pound, they are part of the Sterling Zone and it's highly unlikely that the Bank of England would allow them to continue as a member. If they created their own currency then the Irish Punt would be an excellent warning as to its likely fate.
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The Irish Pound did fine. The Scottish Pound would in theory break away from the Bank of England, much like the Irish Pound did.

Either way, if Scotland were to break away from the UK, that would have to happen. The Euro would have to come much later. So arguing about whether they qualify or not for the Euro is not part of the debate about breaking away, or rejoining the EU. They would need their own currency even if they join the EU, because joining the EU is not joining the Euro.
 
Walt said:
The Irish Pound did fine. The Scottish Pound would in theory break away from the Bank of England, much like the Irish Pound did.

Either way, if Scotland were to break away from the UK, that would have to happen. The Euro would have to come much later. So arguing about whether they qualify or not for the Euro is not part of the debate about breaking away, or rejoining the EU. They would need their own currency even if they join the EU, because joining the EU is not joining the Euro.
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The Punt was tied to the UK pound for a long while but then the link was severed, which was when the value plummeted. That's why they were so desperate to join the Eurozone. Of course they thought it was all win win until the financial crash when they found out the downside of Eurozone membership.
 
I'm sure that the SNP is fully aware of the smearing activities of the Izrael Lobby and is adequately prepared to deal with it.


What's ' He's awa wi ma brew monny ' in Yiddish ?
 
moon said:
I'm sure that the SNP is fully aware of the smearing activities of the Izrael Lobby and is adequately prepared to deal with it.


What's ' He's awa wi ma brew monny ' in Yiddish ?
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At least we can see that the curtain is pulled back and the true racist is revealed for all to see. But don't worry none of the Left on here would dare call you out, they are hypocrites one and all.

This dopey cunt thinks that Azeem Ibrahim is a Jew ffs!

http://www.azeemibrahim.com/
 
Opposing Izraeli fascism isn't ' antisemitism ', maggot- but promoting it, as you do, is certainly prosemitism. Prosemitism is racist.
 
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