Another monetary union in the works?
Currency Choices for an Independent Scotland: Response to the Fiscal Commission Working Group — April 2013
(h/t Alex Little via Twitter)
Here's the call for austerity already.
The Guardian (UK)
An independent Scotland could endanger sterling, Treasury warns
Severin Carrell | Scotland correspondent, The Guardian
"Therefore, and contrary to some recent statements, a currency union would not seriously inhibit the policy freedom and flexibility of an independent Scottish Government. It would instead simply ensure and promote overall financial discipline."
ReplyDeleteUnder infinite fair tale conditions maybe. If you believe this then you're asking to be the next Spain - practicing "fiscal discipline" (surpluses) one year and fending off bond vigilanties the next.
I probably should have stopped reading after the third paragraph, "The Fiscal Commission Working Group consists of four eminent economists..."