Pound or Euro? Division over Scottish currency

There is debate in Scotland over whether or not the Sterling Pound or Euro would be used as the country's currency if the country votes for independence.

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Currency paper "shows we are better together" says Borders MP

Borders MP Michael Moore has said that the currency paper published by the UK Government today "clearly shows that we are better together".

“The currency paper published today clearly shows that the current system is the best for Scotland and the rest of the UK when compared with the other options.

“The crisis in the eurozone, has shown that a formal sterlingzone, as proposed by the SNP, would be extremely challenging to sustain without close fiscal integration.

"Such an arrangement seems to defeat the purpose of independence and would rob Scotland of control over its currency and important financial levers.

“In contrast, the current system has brought economic benefits to all parts of the UK because taxation, spending, monetary policy and financial stability policy are co-ordinated across the whole of the UK.

"This means that economies of Scotland, Wales, England and Northern Ireland are all taken into account when policy decisions are made. This would no longer be the case for Scotland if we were to break away from the UK.

– Michael Moore MP, Berwickshire, Roxburgh and Selkirk, Lib Dems

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