As for forcing “60 million people to be the lender of last resort to a foreign government”, Dr Cartwright should bear in mind that this might not actually be necessary since the principal so-called “Scottish banks” – RBS and HBOS – are already fully absorbed into the British banking system, and this is unlikely to be changed overnight in the event of a Yes vote in September.
It would be at least as much in England’s interests as in Scotland’s for the Bank of England to continue to be the lender of last resort for these two banks in the aftermath of independence.
I really do wish Dr Cartwright would stop treating us Yes supporters as if our heads are buttoned up the back.
IAN O BAYNE
Dr Roger Cartwright makes a reasonable request for information on what would happen in an independent Scotland if a currency union cannot be agreed upon.
This is a distinct possibility since any preconditions set by either the Holyrood or Westminster governments might be unacceptable to the other.
As far as I am concerned I am going to keep the pound if Scotland becomes an independent country.
Others, such as those who frequently travel to Europe, might also use the euro, and indeed I might do so myself if the unofficial exchange rates make that the cheaper currency to use. Others might even want to use the dollar.
Some high street stores are already prepared for such a situation in that many of their goods are priced in pounds and euros.
A multi-currency Scotland would be very attractive to tourists and there would be the added advantage that it would encourage the Scottish population to be more competent at mathematics as they weigh up prices in the different currencies.