Having been down south for a few days I decided to ask some questions about a possible currency union in the event of a Yes vote in September.
The First Minister is quite right that if the basic question, “Do you object to a currency union between an independent Scotland and the remaining UK?”, is asked, most people don’t object.
However, if that is followed up with: “Are you then happy for your taxes being used as part of the lender of last resort for a foreign country ie Scotland?” then the answer was nearly always no.
In fact the idea that any rUK government could impose such a regime on the population without a referendum met with considerable hostility and questions about whether that would be legal.
Any legal challenge would delay the implementation of a currency union by years.
The idea that Scotland would default on debt or that there would be transaction costs met with the response that Scotland would be the sufferer in the long run and that the impact on rUK would be negligible. This all may be moot as it appears that the Queen’s head might be being removed from any currency used in Scotland if many of the Yes campaigners have their way.
However, the First Minister should indicate how he intends to force a currency union on rUK in the face of opposition not only from politicians but from the bulk of the population.
(Dr) Roger I Cartwright