Market pressure builds on George Osborne to confirm currency union

Back in January Ivan McKee of Business for Scotland stated that financial markets and currency traders would pressure Westminster towards a currency union. He was right.

The last few days has witnessed speculation on the value of the pound Sterling, alongside some instability on the stock exchange.

This behaviour is driven by what analysts are describing as ‘uncertainty’ – but uncertainty over what?

Westminster’s failure to present a sensible currency and financial framework ahead of a vote for Scottish independence is a substantial factor.

This decision generated criticism from economists and commentators. Now the UK Government is risking its own economic future on a refusal to discuss arrangements with an independent Scotland.

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