Currency choices for a solo Scotland

Referring to the notion of independent Scotland’s last hurrah in Darien, the Chancellor, George Osborne, warned that we could end up “like Panama” if we try to retain the pound after 2014.

We have four options: join a currency union under Bank of England supervision; hang onto sterling like a banana republic; join the euro; or 
return to the pund Scots.

And in case the SNP thinks the euro will allow independent action, Angela 
Merkel warns that the European Central Bank in Frankfurt will have “the last word” on national budgets.

So take your pick: control from England; control from Germany; a currency likely to fall to its original value of 8p and run by the Bank of Airdrie – or remain in the UK.

(Dr) John Cameron

St Andrews

I would like to congratulate Brian Wilson on his excellent article on the SNP and the pound (Perspective, 24 April). He sums up extremely well the SNP’s 
expedient-driven approach to policy, which has changed as often as the weather.

We will be in the euro, then we won’t. We’ll ditch the Queen, then we won’t. We’ll bale out of Nato, then we won’t. We’ll jump into the EU – er… maybe we can’t. We’ll keep the pound – er… maybe we can’t.

Alex Salmond and his cronies must be using the proverbial fag packet to list their policies – and it must now be a pretty grubby item with all of the crossing out and changing that has gone on.

Brian Wilson is absolutely right: only those died-in-the-wool, ready-to-believe-
anything SNP supporters could be induced to vote for “independence” on such poorly thought-out, often foundationless and shifting policies.

On the immediate issue of the currency, however the SNP dresses it up, I personally fail to see how Scotland will be “independent” with a “foreign” country determining its fiscal policy.

Finance secretary John Swinney’s reasoning on Tuesday’s Newsnight was excellent but – unfortunately for him – at justifying precisely why we should all vote decisively No.

David K Allan

Haddington