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LOVE ME LEGAL TENDER If Scotland Gets Its Own Currency, How Many Mickles Will Make a Muckle?

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LOVE ME LEGAL TENDER If Scotland Gets Its Own Currency, How Many Mickles Will Make a Muckle? MONTH END LOVE ME LEGAL TENDER If Scotland gets its own currency, how many mickles will make a muckle? Scottish money is a funny before, and so will naturally And that’s pretty much what wanted to try to spend one thing and it’s about to get defer to the sales-hungry Scotland’s first minister, Alex of those in medieval Clapham, funnier. As someone who shop manager. Salmond, would like to see if only for fear of watching has roots north of the border To be fair, the notes issued carrying on into the future. the shoppe assistant have and who has ventured there by the Bank of Scotland, Naturally, if an independent a breakdown as they try to many times, returning to Royal Bank of Scotland and Scotland can spend and tax work out the change.) Prior London, wallet replete with the Clydesdale Bank do not as much as it wishes, then to the union with England Scottish banknotes, I think actually count as legal tender the Westminster government in 1707, groats and bawbees it will be fascinating to see in England. Then again, they doesn’t relish the prospect of were in circulation, too (they what’s in the wallet if Scotland don’t even count as legal tender playing Germany to Scotland’s aren’t imaginary relics from votes for independence later in Scotland. For that matter, Greece. Not that that’s that dreadful musical this year. not even Bank of England inevitable, of course, because fantasy, Brigadoon). Sticking with the current notes count as legal tender in the only oil that Greece has is But maybe what’s needed currency for a moment, it Scotland. We’ll spare you the olive oil. is something that speaks to the takes a wee bit of courage to details, but basically, ‘legal The independence future of a proud, independent try to spend a McNote inside tender’ is a phrase with a very referendum is taking place Scotland. Let me suggest that the M25, but it is by no means narrow, technical definition 700 years after Scotland’s the Bitcoin would be a stronger impossible. Indeed, I have that needn’t trouble a Clapham greatest ever defeat of the currency if only it had an almost never failed. Partly, it shop assistant. Nor the shop English (apart from the 7-2 adoptive homeland; Scotland comes down to demeanour: chain’s corporate treasurer. thrashing in a football match could fill that role admirably. not so aggressive as to be Comedian Michael McIntyre at Hampden Park in 1878), so And as a virtual currency, shortlisted for a leading role explained the whole Scottish perhaps Scotland ought to look the Scottish Bitcoin wouldn’t in Braveheart 2, nor so timid banknote thing a few years to its history to get monetary weigh heavy in the wallet or as to look like a guilt-infested ago: England asked Scotland, motivation for its future cache the sporran. counterfeiter. One tries to “Would you like your own of cash, resurrecting the appreciate, too, the fact that currency?” and Scotland ‘pound Scots’. Dating back the poor, downtrodden shop replied, “Aw, it’s complicated to the 12th century, it was assistant in Clapham has mathematically. Let’s just have subdivided into 20 shillings of Andrew Sawers probably never laid eyes on yours with our photos. I think 12 pence each. (That idea was is a freelance business and financial journalist. a crisp Clydesdale Bank fiver that’s the best way.” apparently stolen from England He is the former editor – goodness knows why.) of Financial Director There was also a coin known and has worked on Accountancy Age, It takes a wee bit of courage as a merk, which was worth Business Age and two-thirds of a pound Scots, Commercial Lawyer. He to try to spend a McNote inside or 13 shillings and 4 pence. tweets as @Mr_Numbers the M25, but it is not impossible (I definitely would not have The highlights of the April 2014 issue of The Treasurer include: How real is the threat of IN THIS negative interest rates and what could they mean for company deposits? See page 20. Toby Shore, Dubai Aluminium’s corporate treasurer and chief risk officer, explains why opportunities ISSUE: abound in the Middle East, on page 26. Find out the latest on the proposed regulation of money market funds, on page 32. Read our top tips for running an interview process, on page 42 50 The Treasurer April 2014 www.treasurers.org/thetreasurer.
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