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So economically, independence could only lead to things getting much worse, no? It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
Then again, if the UK breaks up, couldn't Scotland be the successor state to EU membership and the rest of the UK exit? After all, on paper the Act of Union between Scotland and England was between equals... I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
If the Scots suddenly started running the tax haven scam for themselves, they could make London very nervous.
The Catalan government would probably argue that it has been a net fiscal contributor to Spain and so is owed. However, the Catalan government borrowed 10bn from the Spanish government last year to avoid insolvency, and it will borrow as much this year. In addition, Catalunya Caixa has received 10bn of Spanish government aid (some of it from the EU bailout last year) and now cannot be auctioned because nobody wants to buy it. I joke that the Spanish government should sell Catalunya Caixa to the Catalan government for 1.
So Catalan independence looks to me to set up something not unlike the Ljubljanska Banka controversy: when Yugoslavia fell apart many banks failed, including Ljubljanska Banka. The newly independent slovenia argued that onle Slevenes were eligible for protection from the Slovenian state, and that others had recourse to the Yugoslav deposit guarantee. 20 years later, Slovenia is delaying retification of Croatia's EU accession because there are still lawsuits by private Croatian citizens on their lost savings in Ljubljanska Banka, and Slovenia and Croatia are negotiating some sort of settlement. 20 years later. I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
Exiting the Euro would be a good thing... if the debt were under local law.
The debt is under whatever law the debtor is under. What it says on the lien doesn't really matter to that.
- Jake Friends come and go. Enemies accumulate.
Some of which may be incompatible.
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