A newly independent Scotland could start afresh without the burden of having to pay off some of the UK’s massive debt mountain, according to a leading academic.
According to the Scottish Sun on Sunday, Doctor Matt Qvortrup has said international precedent backs his view that a Yes vote could result in Scotland freeing itself from a £125bn UK debt liability.
According to Doctor Qvortrup, Scots could be presented with an opportunity to ‘vote Yes and send the bill to David Cameron’.
Speaking to the newspaper, the academic said: “Of course I am neutral and just an observer, but the world deserves to know the facts. Personally speaking, I think this could be a game changer.”
He said: “If Alex Salmond doesn’t want to share the debt and is happy to reapply to Europe, the default position in international law is that Scotland would not have to pick up the debt.
“That has to be known to the people before the vote next year so that David Cameron will know we are starting negotiations from the position that UK (remainder of UK) is the successor state. That has consequences. The one that pays the debt is the successor state.
“If you want to be the EU successor state and be in the UN Security Council, you can. You take all the spoils – but you also take the baggage.”
Doctor Qvortrup’s views are backed he says by historical examples of single entities becoming two separate states. In a new report which studied examples since 1830, Doctor Qvortrup looked at the aftermath of Belgium leaving the Netherlands, the break-up of the former Soviet Union and the break-up of Yugoslavia.
His research revealed that countries which split equally took on their respective share of any debts built up over the period of their union. However, where one country assumed the role of ‘successor state’ and with it the old memberships of organisations like the EU and UN, then that country shouldered all of the debt.
Doctor Qvortrup added: “In Yugoslavia, Serbia Montenegro wanted to be the successor country but they were deemed not to be – which meant they were not landed with the debt. The position Scottish Secretary Michael Moore and Prime Minister David Cameron have is that as long as they are the successor state it’s all good.
“But the understanding about them having to pay the debt could be a good argument for the Yes campaign.
“All other things being equal, Scotland does not have to pay its share of the UK’s debt.”
The UK government has already claimed that the remainder of the former UK would be the successor state and that Scotland would be treated as a brand new state. Westminster has also suggested that a newly independent Scotland could be prevented from using the pound.
The SNP has already pointed out that should Westminster adopt a stance that led to some UK assets, already partly owned by Scotland, being denied a newly independent Scotland then the logical extension of the argument would apply to current UK debt.
Sunday, 12 May 2013
By Martin Kelly
IMHO THE DEBT IS ODIOUS
In international law, odious debt, also known as illegitimate debt, is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.
THEREFORE SCOTLANDS DEBT WILL BE VOIDED WITH A YES VOTE
THERE IS ALSO THE MATTER OF THE LEGALITY OF THE DEBT
In November 2008, Ecuador became the first country to undertake an examination of the legitimacy and structure of its foreign debt. An independent debt audit commissioned by the government of Ecuador documented hundreds of allegations of irregularity, illegality, and illegitimacy in contracts of debt to predatory international lenders. The loans, according to the report, violated Ecuador’s domestic laws, US Securities and Exchange Commission regulations, and general principles of international law. Ecuador’s use of legitimacy as a legal argument for defaulting set a major precedent; indeed, the formation of a debt auditing commission sets a precedent.
AN INDEPENDANT SCOTLAND CAN EXAMINE THE LEGALITY OF ITS DEBT
THE UNIONIST ECONOMIC DISASTER
Chinese rating agency strips Western nations of AAA status
China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West.
The US falls to AA, while Britain and France slither down to AA-. Belgium, Spain, Italy are ranked at A- along with Malaysia.
Dagong rates Norway, Denmark, Switzerland, and Singapore at AAA, along with the commodity twins Australia and New Zealand.
AN INDEPENDANT SCOTLAND WOULD BE AAA TOO IF IT WAS NOT PART OF A FAILED FINANICAL BASKET CASE, STATE CAPITALIST UK!!!
The UK LOST 34.8 BILLION POUNDS in 2006 , surely by unionist logic, the UK is a non viable independant state.Especially now with the credit crunch and Englands economic eggs ,all in one very unstable financial basket. So the UK must be disbanded and made to join the EU…….. or else the UK is just some embarassing little umimportant economic basket case stuck on the fringes of Europe!
Unionism has given Scotland
1. a loss of business investment ,as bank rates are set according to the souths’ needs so encouraging business to move south.
2. Increased unemployment due to unfavourable business environment and the migration of businesses to the south
3. a 25%-30%(at least) LOSS of living standards ,or a 30% Union Jack Tax.
Using the UK’s own assumptions for tax revenue and spending, but including Scotland’s share of North Sea Oil receipts, this answer revealed that between 1978-79 and 1994-95 Scotland had a cumulative surplus of £27.6 billion, or £34 billion in today’s prices. At the same time the UK had a deficit of more than £330bn.
4. caused a population exodus,note there where less people in Scotland in 2006 than in 1961 and note the amount of ex-pat posters
5,116,900 (2006 est)
5,094,800 (2005 est)
5,078,400 (2004 est)
5,057,400 (2003 est)
5,054,800 (2002 est)
5,062,011 (2001 est)
5,083,000 (1991 est)
5,180,200 (1981 est)
5,234,000 (1971 est)
5,201,000 (1961 est)
MORE SCOTS FLED UNIONIST SCOTLAND THAN GERMANS FLED NAZI GERMANY
NOTICE THE POPULATION EXODUS STOPPED AFTER DEVOLUTION
WOULD THE LAST SCOT TO LEAVE THE UNION PLEASE SWITCH THE LIGHTS OUT…..
The unionist MSM has been trying to connect the Scottish Nationalist part with the Nazi party, using Godwins law, that means the unionists have already lost the arguement.
I would not want to point out that in fact the German National Socialist party was a fake socialist unionist party backed by big business and believed in Greater Germany and hated Prussian and Rhineland seperatists and Austrian nationalists and considered direct democracy evil
The modern Labour party is a fake socialist unionist party backed by big business and believes in Greater Britain and hates Englsih seperatists and Scottish and Welsh nationalists and considers direct democracy evil
They both lied thier countries into illegal wars
They both claimed to bring economic miracles which ended in disaster and destruction
They both brought in smoking bans
They are both still being hunted down for war crimes
Apparently the nazis where not big on paedophilia unlike the modern labour party
VOTE YES IN 2014 FOR A DEBT FREE INDEPENDANT PROSPEROUS SCOTLAND
“All government, of course, is against liberty. The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. Most people want security in this world, not liberty.”
“Whether the mask is labeled Fascism, Democracy, or Dictatorship or the Proletariat, our great adversary remains the Apparatus-the bureaucracy, the police, the military…. No matter what the circumstances, the worst betrayal will always be to subordinate ourselves to this Apparatus, and to trample underfoot, in its service, all human values in ourselves and in others.”– The French worker philosopher Simone Weil,1945
“The most dangerous man to any government is the man who is able to think things out… without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable. It doesn’t take a majority to make a rebellion; it takes only a few determined leaders and a sound cause.”
A NEW SCOTLAND
A NOT SO GREAT BRITAIN
Guess Which Country Has Debt Of Nearly 1000% Of GDP…
a study by Aviva and accountants Deloitte found that the UK has the biggest pension gap in Europe, with Britons needing to increase the amount they save each year to have a good retirement income.
AND END BRITISH STATE CAPITALISM POSING AS DEMOCRACY
State capitalism has various different meanings, but is usually described as a society wherein the productive forces are controlled and directed by the state in a capitalist manner, even if such a state calls itself socialist. Corporatized state agencies and states that own controlling shares of publicly-listed firms, and thus acting as a capitalist itself, are two examples of state capitalism
OF COURSE THIS IS JUST FASCISM!!
Fascism should more appropriately be called corporatism because it is the merger of state and corporate power.
Benito Mussolini, fascist dictator of Italy (1922-1943)
END THE WESTMINSTER WAR MACHINE
A NOT SO GREAT WARFARE ECONOMY
The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin . . . Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again . . . Take this great power away from them, and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. . . . But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.
– Sir Josiah Stamp, Director of the Bank of England, 1927
SO YOU CAN KEEP YOUR BRITISH FIAT POUND
…AND YOUR EURO DISNEY CURRENCY
SCOTLAND CAN PRINT ITS OWN MONEY
REAL MONEY NOT FIAT MONEY
A GREAT EXAMPLE BEING PRESIDENT ANDREW JACKSON
“The Bank is trying to kill me, but I shall kill it!”
ANDREW JACKSONS VIEW OF THE BANKS….NO BAILOUT.
“You are a nest of vipers and thieves, and by the grace of the almighty God, I will root you out!”
ANDREW JACKSON’S VIEW ON CORPORATIONS
Corporations have neither bodies to kick nor souls to damn.
ANDREW JACKSONS VIEW ON THE BRIGHTEST AND THE BEST
Hemans gallows ought to be the fate of all such ambitious men who would involve their country in civil wars, and all the evils in its train that they might reign & ride on its whirlwinds & direct the Storm– The free people of these United States have spoken, and consigned these wicked demagogues to their proper doom.
WE HAVE BEEN HERE BEFORE , PLEASE TAKE ANDREW JACKSONS ADVICE!
“Never take counsel of your fears.”
The Jacksonians opposed government granted monopolies to banks, especially the national bank, which was a central bank known as the Second Bank of the United States. Jackson fought to end the government monopoly to the Bank and got great opposition from Nicholas Biddle, the bank chairman. Biddle first dismissed Jackson efforts, but as the initiative gained popular support, he got more concerned. There was an attempt to murder Jackson at that time but the pistols failed. Jackson would later claim that he had proof the bankers were behind this attempt. Jackson was able to gain popular support because the Bank money manipulations and inflation had created a big recession, and it had inflated land prices, benefiting big land owners and stopping economical development. In a last attempt to stop Jackson, Biddle burst the bubble his inflationary policies had created, and brought about a deflationary correction. This put pressure on Jackson, but after a year of recession, the economy was clean by the deflationary correction, and the Bank was out of “ammunition”. Jackson had won the battle. The Bank continued his operations as a state bank, but had to close years after. Once retired, everytime Jackson was asked what was his biggest achievement as president he answered: “I killed the Bank”.
Andrew Jackson was the only President to pay off the national debt.
SO WHY ARE WE NOT ROOTING OUT THIS NEST OF VIPERS?!?!
WE CAN START WITH THE NEST OF VIPERS IN WESTMINSTER …..AND FINISH WITH THE PARCEL OF ROGUES RUNNING THE NO CAMPAIGN
THESE BRITISH WAR MONGERS ARE JUST THIEVES AND LAIRS AND TERRORIST SUPPORTTERS ,HEMANS GALLOWS ARE TOO GOOD FOR THEM
WE SHOULD THROW THEM TO THIER VICTIMS
THE LIBYA SMASH AND GRAB SUPPORTTED BY ISLAMIC TERRORISTS ,GOT THE MONEY JUNKIES THIER FIX
WE TURNED A SECULAR DIRECT DEMOCRACY WITH THE HIGHEST LIVING STANDARDS IN AFRICA INTO A DYSFUNCTIONAL ISLAMIC STATE …..
THUS INCREASING TERRORISM ,SPREADING ISLAMIC FUNDAMENTALISM AND REDUCING FREEDOM AND LIBERTY AND LIVING STANDARDS..ALL PART OF THE REAL FASCIST PLAN
SYRIA IS GETTING THE SAME TREATMENT
AFRICA WILL ALSO BE DEMOCRATISED AND HUMANITISED…WESTERN STYLE
WE CAN HELP END THIS WITH SCOTTISH INDEPENDENCE
SCOTTISH INDEPENDENCE IS NOT JUST FOR SCOTTISH FREEDOM AND LIBERTY
ITS FOR EVERYONE