Scottish still searching for solutions to the 'Greta Green' problem
Glasgow, Thursday,
Public opinion in Scotland steadily moves towards voting 'yes' to independence. But the 'no' side can point to plenty of obstacles still. Here are the main ones:
Challenges of an independent currency
Some people have suggested Scotland should create a new currency and peg it firmly to the pound in the manner of a 'currency board'. This arrangement has two problems, first, the only way the Scottish government would have to raise money for its "independent policies" like investing in education and health, would be through taxation or borrowing. It wouldn't have the available options of a truly independent bank, of printing more money and issuing debt. Secondly, one of the rules for joining the European Union, which is vital to the Scottish Nationalist strategy, is the country needs to use the Euro. However, European rules require countries to hold their own currency stable against the euro for two years. Making the Scottish currency stable against the euro while also pegging it to the pound seems like 'Mission Impossible'.
A hard border with England?
Only last week, the English minister of the interior, Kevin Foster (42), made reference to the European common travel area called Schengen, by warning the nationalists: "If they want Scotland to join Schengen that does mean a hard border, it means building a great wall of Gretna." This was a reference to Greta Green, a Scottish village famous as a haven for young lovers after the English passed an unpopular act controlling marriages in the eighteenth century. An odd reference seemingly reminding people of the advantages of fleeing English control!
An Independent Economy - but how would it do?
And now, here comes the million-dollar question, how would Scotland's economy react to independence? One recent study warned it would leave the country "considerably poorer", and another thinktank has argued that even if it did not "immediately" damage the economy, the requirements of entrance to the European Union would hit it hard. However, the boffins predicted that, later, Scotland would manage to build itself back to around its pre-2016 wealth. A third study suggests that Scotland would suffer at first but then experience an "economic reboom" at the moment of joining the EU and become a "highly profitable country"! Other analysts see some benefits to 'Scoxit', notably Scotland's very own immigration rights. Independence would give the country the right to allow more immigrants, something beneficial for this relatively small country. Secondly, Scotland is a strongly liberal country that has very often in its history been ruled by a conservative central government, it is easy to see why Scotland might want to have its own leaders in the next years committed to its social democratic values.
What will become of the Union Jack?
'Scoxit' will leave questions for its southern neighbors too, not least the redesign of the flag! With propositions like these…
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