How does one "get rid of" 38 billion debt?
Oh I know, pass it over to the Scots if they go independent. They'll be needing a bank won't they?
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10 years ago
OT RBS
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10 years ago
By a write-down provision against the creditors listed in the balance sheet. Basically, it's exactly the same as 100% depreciation of an asset in one year.
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10 years ago
On Friday 01 November 2013 18:18 harryagain wrote in uk.d-i-y:
They already have the Bank of Scotland and the Clydesdale Bank - both of which along with RBS issue scottish notes (I have seen all three).
[NB the notes I saw dated from the 90's - so info is not necessarily current!]- Vote on answer
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10 years ago
But, Bank of Scotland is now owned by Lloyds and Clydesdale has been Australian owned for quite some time.
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10 years ago
On Friday 01 November 2013 19:05 charles wrote in uk.d-i-y:
Do they still issue currency?
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10 years ago
Yes. I have some in my wallet right now. A few decades ago, there were other Scottish banks which also issued their own banknotes.
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10 years ago
They aren't legal tender (in the strict sense), even in Scotland.
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10 years ago
They print their own notes, if that's what you mean.
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10 years ago
Union Bank, Commercial Bank, North of Scotand Bank, British Linen Bank are ones I remember from my youth.
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10 years ago
Oh well I suppose they can go back to bartering. Has the advantage of being tax free.
Bartering still goes on esp in the rural economy.
At least they still have an oil refinary.For the moment.
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10 years ago
I wonder if they'll be allowed to print euros?
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10 years ago
Harryagain spoke:
Since the vast majority of the 'money' in the world economy is fabricated out of thin air, then I should imagine waving a wand at it would suffice to make it disappear?