Sunday, 29 June 2014
Having the Sassenach's cake and eating it
Alec Salmond thinks an independent Scotland can keep the pound within a currency union. He also thinks Scotland can grow faster by borrowing more than the rest of the UK. Leaving aside the proven inadequacies of Brownian economics, a currency union means that there is no independence of borrowing. So which is it to be, currency union or higher borrowing?