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When does (did?) Scotland switch from the Pound (Sterling) to the Euro?

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Czolgosz Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-04-07 10:11 PM
Original message
When does (did?) Scotland switch from the Pound (Sterling) to the Euro?
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HarukaTheTrophyWife Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-04-07 10:12 PM
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1. It's not going to happen unless the UK joins the EU.
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T_i_B Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-05-07 02:57 AM
Response to Reply #1
5. Britain already is in the EU
However, we are not part of the Euro, and in order for us to join the Eurozone we would have to hold a referendum and get a "yes" vote.

The chances of that happening are minimal to tell you the truth as the EU and the Euro are widely disliked in large parts of the UK.
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auntAgonist Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-04-07 10:16 PM
Response to Original message
2. they haven't . edit: to add info for you
Edited on Sun Mar-04-07 10:20 PM by auntAgonist
http://www.siliconglen.com/Scotland/1_7.html

All Scottish banks have the right to print their own notes. Three choose to do so: The Bank of Scotland (founded 1695), The Royal Bank of Scotland (founded 1727) and the Clydesdale Bank (owned by National Australia Bank). Only the Royal Bank prints pound notes. All the banks print 5,10,20 and 100 notes. Only the Bank of Scotland and Clydesdale Bank print 50 pound notes.

Scottish bank notes are not legal tender in Scotland. English bank notes of denomination less than 5UKP were legal tender in Scotland under Currency and Bank Notes Act 1954. Now, with the removal of BoE 1UKP notes, only coins constitute legal tender in Scotland. English bank notes are only legal tender in England, Wales, The Channel Islands and the Isle of Man. In Scotland, 1 pound coins are legal tender to any amount, 20ps and 50ps are legal tender up to 10 pounds; 10p and 5ps to 5 pounds and 2p and 1p coins are legal tender to 20p (separately or in combination). 2 pounds coins and (if you can get hold of one) 5 pound coins are also legal tender to unlimited amounts, as are gold coins of the realm at face value (in Scotland at least).

Northern Irish notes are not legal tender anywhere, a situation similar to Scottish notes. Whether Scottish notes are legal tender or not does not change alter their inherent value but it dictates their legal function. Credit cards, cheques and debit cards are not legal tender either but it doesn't stop them being used as payment. Only a minuscule percentage of Scottish and British trading is carried out using legal tender. Just because something is not legal tender certainly doesn't imply it's illegal to use.

The lack of a true legal tender in Scotland does not cause a problem for Scots Law which is flexible enough to get round this apparent legal nonsense, as was demonstrated some time ago when one local authority tried to refuse a cash payment (in Scottish notes) on the grounds it wasn't "legal tender", but lost their case when the sheriff effectively said that they were obliged to accept anything which was commonly accepted as "money", and that should their insistence on "legal tender" have been supported, it would have resulted in the bill being paid entirely in coins, which would have been a nonsense; stopping short of saying that the council would have been "cutting off their nose to spite their face", but seeming to hint at it.
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Czolgosz Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-04-07 10:50 PM
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3. Thanks
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pitohui Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-05-07 12:38 AM
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4. didn't know they were going to, why would they?
the pound is incredibly strong, you wouldn't normally shift from the world's strongest currency to the world's runner-up
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