18.02.2014 - Back to the future with Scottish currency
The rejection by all the Westminster parties collectively of the SNP’s Plan A for a post-independence UK currency union has elicited a string of possible Plan B solutions, several of them already considered and rejected as inferior to Plan A by the SNP’s expert group of ‘wise men’. But the current debate is ill-founded, since the UK can have no more control over who uses the £ symbol as a unit of account, than they can have control over the use of metres and kilogrammes. As for currency, which is not necessarily the same thing as a unit of account, any number of countries ‘peg’ their currencies to a stronger currency as a unit of account...............................................Full Article: Source
Print