Currency Union. Experts in Finance Offer a View
1. Deutsche Bank. The UK government have dismissed a currency union with an independent Scotland, but it would in practice be impossible to unilaterally sever the Scottish banking system from the rest of the UK without major risks to the financial stability of the rUK banking sector.
2. Citigroup. Valentin Marinov, the head of European Group-of-10 currency strategy at Citigroup said, “Given the close economic ties between the two and assuming that these ties need not weaken going forward, the potential introduction of a currency union need not adversly affect trade and other flows.”
3. University Dean. Professor Angus Robertson. The rUK’s debt to GDP ratio will rise significantly, with possible consequences for its credit rating. At the same time, Scotland’s debt burden will be much lower than rUK’s in all cases.
4. University Dean. Professor Andrew Hughes-Hallett, an expert in economics and public policy at George Mason University in the US said, “There’s nothing which the Bank of England or the rUK could do to stop Scotland using the pound”.
Effects of Currency Unions on Trade and Output
Independent evidence provided through academics and economists all point to a currency union being the only logical choice in particular where neighbouring countries also share a language it is the csa that they can profit by sharing a currency too.
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