Sep
10

Scary Scotland

scotlandScotland’s independence bid assumes using the British Pound and gaining EU admittance. Britain will forbid Scotland from using the Pound and the EU will force Scotland to apply for EU membership and adopt the euro. Scotland could bypass the EU and use a new currency tied to the Pound. This means either losing all control over monetary policy or all preferential trade access. Voluntarily choosing either is economically insane.

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