Professor Brian Quinn, a Scot who was formerly a highly-respected figure at the top of the Bank of England. His paper for the David Hume Institute is required reading for the whole referendum debate as it goes through the argument like a knife through cheese. Retaining sterling as Scotland’s currency “but with no role in the formation of domestic or external monetary policy” would put us in the small, select company of Panama and Montengro, which have adopted the US dollar and the euro, respectively. Quinn continues: “It would be a strange form of independence for Scotland to have its interest rates determined in London, relinquishing the levers that are necessary to effect the changes in policy which the Scottish Government asserts are necessary to develop its economy in a different way.”
Posted on: Wed, 11 Sep 2013 11:20:59 +0000
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