View the article online at http://citywire.co.uk/wealth-manager/article/a734010
Osborne rules out pound for independent Scotland
by Michelle Abrego on Feb 14, 2014 at 07:32
‘To take that step and then give up control over interest rates, exchange rates, and freedom over tax and spending policy would leave an independent Scotland hugely exposed to economic shocks but without any of the economic levers to manage a response,’ he said.
In January governor of the Bank of England Mark Carney also warned that Scotland would have to relinquish a degree of sovereignty if it would keep sterling as its currency in the event of becoming independent.
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
More from us
- Pound strengthens as Carney revamps rates pledge
- Scottish funds face multi-million pound bill for independence
- Carney: Scotland has to cede sovereignty if it wants pound
On the road
by Michelle McGagh on Aug 01, 2014 at 05:01