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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.
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