Photograph by ,a href=”http://www.flickr.com/photos/howardlake/3411122293/”>Howard Lake
Chancellor George Osborne is expected to rule out the possibility of a formal currency union between the UK and Scotland, if the Scottish people vote for independence in the referendum on the 18th September.
SNP leader Alex Salmond and the YES campaign have claimed that they will continue to use the pound after independence in a currency union, and have threatened to leave the UK without a proportion of the national debt if Westminster did not comply.
The coalition government has always described the chance of a currency union as unlikely, but Osborne is expected to completely rule out any formal currency union with a post-independence Scotland. This will force the YES campaign to decide whether they will create their own currency, join the Euro, or keep the pound as an informal currency with no say in setting interest rates and Bank of England policy.
The SNP has described the refusal of Westminster to offer a currency union as “bullying and intimidation” and a continuation tactics designed to scare the Scottish electorate into maintaining the status quo and the union.
Scottish voters will be asked the Yes/No question “Should Scotland be an independent country?” on 18th September.
1 Comment
If they want independence, then why would they think they would be entitled to the BRITISH pound?
Make your own, or use the Euro. Get with it Scotland. You cant have it both ways!