Rejection of currency union with Scotland criticised
Key reasons put forward by the UK Government for rejecting a currency union with an independent Scotland are "unsubstantiated", an economics expert has said.
Key reasons put forward by the UK Government for rejecting a currency union with an independent Scotland are "unsubstantiated", an economics expert has said.
The UK Government analysis to date has overstated the risks of currency union with an independent Scotland, a spokesman for the First Minister has said. The spokesman for Alex Salmond added that the report "totally demolishes" the Treasury's argument against a shared currency.
As the Fiscal Commission Working Group has pointed out, the UK Government analysis to date has overstated the risks but failed to fully capture the benefits of formal monetary union.
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