Any way you look at it, for both England and Scotland, a currency union is the most sensible short-term option. But if rUK wants to play hardball, Scotland could throw as hard as anyone. Personally, I just hope it doesn’t come to that.
THE really objectionable thing about the argument over Scotland’s currency is the scolding, high-handed manner in which it is conducted. There is a serious debate to be had about what currency Scotland should use if it becomes independent. There are arguments on both sides. But the way Unionists such as George Osborne and Ed Balls talk about it is as a schoolteacher to a rather dim child.
Ed Miliband has a particularly patronising way of talking about the currency. Very slowly. And seriously. About the risk. “If Alex Salmond gets his way.” And how it would be the very poorest. In society. Who would suffer. When interest rates and mortgages rise… ignoring the fact that it would be the rUK’s rejection of monetary union that would be the immediate cause of economic dislocation. We saw a taste of that this week as the pound wobbled on the international money markets.
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