An independent Scotland and sterling

The Guardian:

The battle over the Scottish government’s plans for Scotland to share the pound after independence intensified sharply on Wednesday after the governor of the Bank of England warned about the risks of a eurozone-style financial crisis.

Mark Carney said Scotland would need to give up significant areas of its sovereignty and reach a watertight deal with the UK on banking, taxation and spending if a new sterling zone were to avoid the risks and instability which had plagued the euro.

Salmond wants to set corporation tax rates at 3% below the UK rate to encourage businesses to set up headquarters in Scotland.   He needs to be told that isn’t possible whilst sharing sterling.

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