Chancellor rules out currency union with Scotland

If Scotland "walks away" from the UK it would also be walking away from the pound, the Chancellor has said. George Osborne issued the stark warning to voters north of the border ahead of September's independence referendum.

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Political parties 'set to rule out Scotland currency union'

Scotland's hopes of keeping the pound if it becomes independent after a referendum later this year have been dealt a blow with Britain's three main political parties set to refuse a currency union, according to reports.

First Minister Alex Salmond's hopes of keeping the pound look set to be dealt a blow. Credit: PA

George Osborne, Danny Alexander and Ed Balls are all reportedly set to rule out Scotland keeping the pound if they become independent after the September vote.

The Bank of England Governor Mark Carney had previously warned that a newly-independent Scotland would not have complete economic independence from the rest of the UK if it wanted to keep the pound.

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