The SNP
are at sixes and sevens over their economic policy. That's not
surprising when you consider that Mr Salmond was an economist for the
Royal Bank of Scotland.
Initially
they promissed that we would join the Euro after independence. Now
they want to delay that and stay with Sterling for a while. This
dithering is not good for businesses; which need stability. In
reality, an independent Scotland would have little choice. If we want
to join the European Union, we will probably have to accept the Euro
as our currency.
Approximately
60% of Scottish exports go the rest of the United Kingdom. If we have
a different currency from our main customers it will impede trade.
Many Scots also work for British organisations;and it would be
complicated to get paid in a foreign currency.
Even if
Scotland were able to keep Sterling as its currency, there would be
problems. Britain would have to impose strict supervision over our
spending and borrowing so thay we didn't damage the currency. The
Bank of England would be unlikely to bail out Scotland if we got into
financial difficulties.
In either
of the above currency scenarios, we would be less independent than we
are today.
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