Friday, February 14, 2014

WSJ: How Scotland Can Keep the Pound

By SIMON CONSTABLE

If UK chancellor George Osborne wants to come down hard on Scottish hopes of independence, he should at least get things right. The problem is he hasn’t.
This week Osborne, who holds a cabinet position roughly equivalent to Treasury Secretary, said “If Scotland walks away from the U.K., it walks away from the U.K. pound.”
If the Scots believe him, his pronouncement sounds like a scary proposition. Or it would be, if only he was correct.
“Osborne is just wrong,” says Steve Hanke, professor of economics at the Johns Hopkins University. “There is a viable option that is easy to implement.” See original post here.
Photo by Charlie Seaman on Unsplash

No comments: