The U.K. government’s refusal to grant a currency union with an independent Scotland is a bargaining chip and will be dropped if voters back independence in next month’s referendum, said Joseph Stiglitzsaid. The Nobel-prize winning economist, speaking in a Bloomberg Television interview today in Lindau, Germany, said that it’s in the interests of all parts of the U.K. to reach a “stable transition” on monetary arrangements post-independence. “The position of England today is obviously bargaining, trying to change the politics of the electoral process,” Stiglitz said. “Once they get independence, if that happens, then I think there would be a very different position.”
Posted on: Wed, 20 Aug 2014 14:30:44 +0000
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