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Economic expert says currency union in no country’s interests

Posted on 06 March 2014

An economic expert told MSPs a currency union between an independent Scotland and the rest of the UK would be in the interests of neither, on 5 March 2014. Dr Angus Armstrong from the National Institute of Economic and Social Research told the Economy, Energy and Tourism Committee a formal currency union would be “very difficult indeed” and added UK Chancellor George Osborne had been “entirely rational” to rule it out.
The committee was taking evidence in the first session of the day as part of its inquiry into Scotland’s potential economic future after the referendum. Dr Armstrong said for Scotland to attain the aspirations detailed in the SNP’s White Paper it would require Scotland to have its own currency, to allow it to control all the policy levers………………………………………..Full Article: Source


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