What is backstop?

Discussion in 'World Events' started by Saint, Aug 22, 2019.

  1. gmilam Valued Senior Member

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    Why would Ireland want to give up their hard won independence and leave the EU? I don't see that happening.
     
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  3. mathman Valued Senior Member

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    The problem with Brexit is that it was a decision by the English people. Scottish and Northern Irish opposed. If they leave the U.K, they can join the European union.
     
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  5. Saint Valued Senior Member

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    Can you use Scottish pound note in England?
     
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  7. Curious layman Registered Member

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    Yes, there's no "pound note" though, our smallest note is the £5.
     
  8. Sarkus Hippomonstrosesquippedalo phobe Valued Senior Member

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    You can use the Scottish pound most places in England, but some establishments might not accept it. It is technically not legal tender, which I think means that it can be refused. But it is backed by Sterling so most (99.9...%) do accept it.
     
  9. Curious layman Registered Member

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    It certainly is legal tender, and you can't refuse it neither.
    Then I Wikipedia'd it and...holy cow! It's not, not even in Scotland!

    https://en.m.wikipedia.org/wiki/Banknotes_of_Scotland

    Quote....Scottish banknotes are unusual, first because they are issued by retail banks, not central banks, and second, because they are technically not legal tender anywhere in the United Kingdom-not even Scotland. As such, they are classified as promissory notes, and the law requires that the issuing banks hold a sum of Bank of England banknotes or gold equivalent to the total value of notes issued.

    https://en.m.wikipedia.org/wiki/Promissory_note
     
    Last edited: Sep 2, 2019
    Sarkus likes this.

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