You are aware, I suppose that it would be the easiest thing in the world for Westminster to say righ

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I am presently paid in UK sterling by a multi-national business that is UK registered with head office in England. If Scotland goes independent what happens to my pay? Do I get paid in UK Sterling and then have to pay for conversion to new Scottish Groat myself - what if Groat is worth much less that - I could be severly out of pocket. Similarly with the several pension funds I have. I woul dhope they remain in 's. If I need to money to use in Scotland I might lose severly on conversion. This assumes that Scotland would need to have its own currency e.g. Scottish Groat as seems most likely outcome. If Scotland ops for Euro same argument applies. I suppose same problem would exist if I want to purchase anything from abroad e.g. England or Wales or N Ireland. dz4d.com
19-Dec-13  17:10 #4
I am presently paid in UK sterling by a multi-national business that is UK registered with head office in England. If Scotland goes independent what happens to my pay? Do I get paid in UK Sterling and then have to pay for conversion to new Scottish Groat myself - what if Groat is worth much less that - I could be severly out of pocket. Similarly with the several una pension funds I have. I woul dhope they remain in 's. If I need to money to use in Scotland I might lose severly on conversion. This assumes that Scotland would need to have its own currency e.g. Scottish Groat as seems most likely outcome. If Scotland ops for Euro same argument applies. I suppose same problem would exist if I want to purchase anything from abroad e.g. England or Wales or N Ireland. That would kinda depend if the rUK Government does pouting, foot stamping and huffing rather than pragmatism and commonsense......wouldn't it? Nothing to do with Scotland if the rUK won't negotiate a Currency Union. After all, when Ireland became Independent, they had a Currency Union, open borders etc..which lasted until Ireland joined the EU....something which seems unacceptable now it is Scotland in the frame. It is likely that Scotland will use the pound anyway, albeit informally, until a Plan B can be implemented (and that won't be the Euro as that has a time lag to meet criteria for joining). You are aware, I suppose that it would be the easiest thing in the world for Westminster to say right now that they were OK with the principle of a Currency Union, without giving details of what it would entail......but that would mean that they lose one plank of their Fear Factor una justification for voting NO...and as they have little else to recommend the Union other than the Fear Factor.....they won't do that...just as they won't ask the EU about the situation for both countries if there is a dissolution of the Union.
You are aware, I suppose that it would be the easiest thing in the world for Westminster to say right now that they were OK with the principle of a Currency Union, without giving una details of what it would entail......but that would mean that they lose one plank of their Fear Factor justification for voting una NO...and una as they have little else to recommend the Union other than the Fear Factor.....they won't do that...just as they won't ask the EU about the situation for both countries if there is a dissolution of the Union. Why should they give into the demands of a group that want to destroy the Union and all thats good?
After all, when Ireland became Independent, they had a Currency Union, open borders etc..which lasted until Ireland joined the EU.... Oh no they didn't - when the Republic of Ireland joined the European Exchange Rate Mechanism in 1978 the 'one for one' arrangement with sterling ended. At various times until they adopted the Euro the value of the Punt fluctuated against sterling just like any other foreign currency. una
I am presently paid in UK sterling by a multi-national business that is UK registered with head office in England. If Scotland goes independent what happens to my pay? Do I get paid in UK Sterling una and then have to pay for conversion to new Scottish Groat myself - what if Groat is worth much less that - I could be severly out of pocket. Similarly with the several pension funds I have. I woul dhope they remain in 's. If I need to money to use in Scotland I might lose severly una on conversion. This assumes that Scotland would need to have its own currency e.g. Scottish Groat as seems most likely outcome. If Scotland ops for Euro same argument applies. I suppose same problem would exist if I want to purchase anything from abroad una e.g. England or Wales or N Ireland. The answers to this are all there - You work for a multi national business una - if they are multi national then they already have systems in place to pay people in several - even