Here we go again! More of this facile nonsense that assumes there is one single currency ‘solution’ which serves perfectly in all circumstances and for all time. And that the currency used is more important than the ability to decide what currency is used.
Ireland continued to use the pound after independence before creating its own currency and then adopting the euro. What this reminds us of, if we are not obsessively fixated on the name of the currency and whose picture is on it, is that the most important thing is to have options. What matters is, not what currency arrangements are adopted at any particular time, but the capacity to decide which currency arrangements are most appropriate and the ability do implement those arrangements efficiently.
Like it or not – scream and stamp your feet as much as you like – the fact is that there will be a period of transition. Andrew Wilson isn’t dictating now what that period will be or what specific arrangements will be put in place for its duration. He is merely presenting a scenario. What actually happens will be a matter for the democratically elected government of Scotland.
And the reality is that there is no such thing as an independent currency. Being independent doesn’t mean Scotland gets to just disregard the way the real world works. We may aspire to change the way it works. Or, at least, the way we work within it. But that isn’t going to happen as if by magic on the day we celebrate our exit from the Union.
Here is the crucial point being missed by all those rushing to judgement on the Sustainable Growth Commission Report. All of the things outlined or recommended in that report are strictly conditional on them being what is best for Scotland at the time. And utterly dependent on it being the people of Scotland who are ultimately responsible for deciding what is best for Scotland.
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