Category Archives: Debt

Debt – the first move (published in the Scottish Sun 15/1/2014)

The UK Government has just announced that it will honour its debts. It has done so since before Charles II lost his head, so why did it need to make this announcement? Because it claims that those who lend money … Continue reading

Posted in Debt

Scottish Independence: Debt and Assets

The level of debt and how an independent Scottish Government would deal with it is a hugely important issue. Given that it is currently running a deficit – its spending exceeds its tax revenue – Scotland will be dependent on … Continue reading

Posted in Debt

International Conference on the Economics of Constitutional Change

The International Conference on the Economics of Constitutional Change, held in Edinburgh on the 19th and 20th of September 2013, brought together leading academics and policy makers to review the Scottish independence debate within the context of wider international experiences. … Continue reading

Posted in Currency, Debates, Debt, Energy, Migration, Monetary Policy, Population, Risk

Scotland’s currency options: a ‘hard’ currency? (speech)

Dr Angus Armstrong, NIESR and ESRC Fellow[1] SCOTLAND’S CURRENCY OPTIONS: A ‘HARD’ CURRENCY? “In a world of sovereign states, nothing can be regarded as truly irreversible”[2]  Professor Benjamin Cohen Introduction Good morning ladies and gentlemen. It is a great pleasure … Continue reading

Posted in Currency, Debates, Debt, Monetary Policy, Risk

David Bell’s speech at Scotsman Conference 4th June 2013

[SLIDE 1] Thank you for this invitation to speak at the Scotsman conference on the Economics of Independence. Like Angus, I am one of the research fellows appointed by the ESRC to study issues relating to the constitutional future of … Continue reading

Posted in Currency, Debt, Monetary Policy | Tagged | 2 Comments

Irish Land Annuities and Debt Default

Between 1870 and 1909, the British Government passed a number of Land Acts aimed at improving the lot of Irish tenant farmers. These included loans for tenants to purchase land which were funded by the Irish Land Commission, set up in … Continue reading

Posted in Debates, Debt | 1 Comment

Debate – Scotland reneges on its share of the UK national debt

One possible independence bargaining strategy: Scotland refuses to take on any of UK national debt unless rUK accepts Scotland within the sterling area. Is this credible? What would be the no-agreement outcome for both parties? Views? Reactions?

Posted in Currency, Debates, Debt

Scotland’s currency options: a currency union? (speech)

by Angus Armstrong This is an abridged version of a speech given at an ESRC conference in Edinburgh ‘The Future of the UK and Scotland’ on 2nd May 2013. The full speech is available here. “International monetary regimes have been … Continue reading

Posted in Currency, Debt, Monetary Policy, Risk