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Warning to Scots over currency
Print Edition
Britain is likely to warn Scots that they cannot have a currency union with the rest of the United Kingdom if they vote for independence in a September referendum, local media reported, citing unidentified government sources.
The pro-independence Scottish National Party wants to keep the pound if there is a “yes” vote in the September 18 referendum but finance minister George Osborne is likely to reject a currency union, the BBC and the Guardian reported.
Osborne’s intervention in the currency debate will be echoed by Ed Balls, the Labour party’s finance spokesman, and by Danny Alexander, the Liberal Democrat finance chief. Bank of England chief Mark Carney has said a currency union would mean Scotland having to surrender some sovereignty.
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