Scotland and the Pound - Again!

Today George Osbourne delivered his verdict on a currency union with a newly independent Scotland. And guess what? He told the SNP to get stuffed. No surprise there really.

Language Timothy!

I am left with a suspicion, however, that the English side (or Remnant UK) are being a little petulant on the issue. Since most of Westminster is by nature against Independence (a yes vote would be akin to a Turkey voting for Christmas after all) it is the biggest gun they can wield in the debate short of sending in the Campbells to crush the rebellion (as in the 1745). 

So Westminster has thrown it's dummy from the pram and said that it will not support currency union with an independent Scotland. I wonder if they really wouldn't? If a yes vote comes in they may reconsider. 

Now as I see it Scotland has more to gain from currency union than the Remnant UK would.

deliberatley dodgy looking
photo!

I take some of my information from a BBC website. I really must try and expand my source material. I like the BBC generally and find much of it's output to be fairly even handed but this article does give you a feeling that it points in one direction! So good luck with that.

Try this article from the BBC's Economics Editor. It lays down the treasury opposition but without much rebuttal of that opinion, so still a bit anti the whole thing. 

But given that an SNP MSP has stated that the best thing for Scotland is a uniform currency (mind you quoted  in a pretty anti "yes" article) aren't they actually arguing FOR the Union. If economic and monetary union with Westminster is in the best interests of the Scottish economy could it not be argued  that the current union with the UK does actually suit Scotland in just this way?

I am not sure just what kind of Independence the SNP want Scotland to vote for. If they were to keep the so called "Sterling zone" wouldn't they still be constrained by Westminster? There would have to be (as stated by the Governor of the Bank of England last week) treaties to ensure the two economies stay converged and neither gets carried away on the borrowing front that they (and independent Scottish government) would still be constrained and bullied by a Westminster that was the significantly larger partner.

There is obviously risk and doubt about a new Scottish currency given the economic conditions but electing to stay in Sterling would amount to an ersatz Independence. little more than an extended devolution. 

If Scotland should want Independence come September 14th they  should have the balls to vote for the whole shooting match. Or join the Euro!

I'd vote for her