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Chancellor rules out currency union with Scotland

If Scotland "walks away" from the UK it would also be walking away from the pound, the Chancellor has said. George Osborne issued the stark warning to voters north of the border ahead of September's independence referendum.

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Independent Scotland 'walks away from the UK pound'

Chancellor George Osborne has said that there is no legal reason why the rest of the UK would need to share its currency with Scotland if it opts for independence.

In a speech, he said: "The SNP says it is as much Scotland's pound as the rest of the UK's. They are like the angry party to a messy divorce.

"But the pound isn't an asset to be divided up between two countries after a break-up as if it was a CD collection".

He added: "If Scotland walks away from the UK, it walks away from the UK pound".

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