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February 12, 2014

Comments

Mike Vickers

The Editorial in the Scotsman today makes the valid point that Salmond has asked for clarification on a shared currency with rUK and now has it. That he may not like the answer is a different matter. Bill Jamieson also in today’s Scotsman says that we are in a No Win situation and the Independence debate will become a lot dirtier between now and September.

To the point about the UK in Europe and Scotland in the UK, Herman Van Rompuy has been making the same comments to the UK as Cameron / Osborne has been making to Scotland. ‘Stay with us and obey our rules’. Personally the UK is likely to be the Odd Man out as in all probability a referendum as to whether the UK should leave the EU will be Yes; so the abolition of a common currency between an independent Scotland and rUK is just coming to a head earlier.

Incidentally it would be good to see the legal statute of the Bank of England in terms of what it says in respect to the Union and should the Union collapse. I note with interest that the Bank was set up by William Paterson, a Scot. I also note that he was one of the main proposers of Darien but seems to have survived losing a fortune thereby, albeit by recommending the Union in 1707: a somewhat cautionary tale!

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