Ben@Forest wrote:Jdsk wrote:Ben@Forest wrote:A decade ago, pro-independence Scots sought a monetary union with a rump UK. Scotland would then continue to receive the lender-of-last-resort services and reputational benefits of association with the Bank of England. But the UK government quickly put the kibosh on that idea. Anyway, this possibility has been rendered moot by Brexit, because an independent Scotland that was already in a monetary union with an extra-EU country would be unable to rejoin the EU.
Unfortunately he doesn't support that statement with any reasons or sources.
Newspapers rarely do, but it will have been checked before print, it was published more than two months ago, there's no correction or clarification and there's nearly 1,000 comments. It makes sense anyway, otherwise applicant countries could be in monetary union with a range of currencies alien to the EU.
(Who to believe? - a professor of economics at the University of California, Berkeley, who's also a former senior policy adviser at the International Monetary Fund writing in a respected broadsheet newspaper which checks things both for accuracy and against libel actions or something you think? )
Professor with "latest book" to sell writes opinion piece in the Guardian. Yup, definitely the last word on what will happen in the future.