Joining the Euro would be Alex Salmond's 'only realistic plan B'

The euro would be Alex Salmond's "only realistic plan B" for the currency of an independent Scotland, according to shadow chancellor Ed Balls.

He told the Observer newspaper that he feared Scotland would end up finding that joining the euro would be "the least worst of all the bad options."

Along with Chancellor George Osborne and Scottish Lib Dem Treasury Secretary Danny Alexander, Balls has ruled out a formal currency union and he reiterated that sharing the pound was "off the table."

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The pound 'is Scotland's currency too'

An independent Scotland will keep the pound "because it's our currency too" a spokesperson for Alex Salmond insisted.

A spokesman for Alex Salmond said the pound is Scotland's currency too. Credit: Danny Lawson/PA Wire

He said: "An independent Scotland will keep the pound because it's our currency, too, and pensions and public services will be more sustainable after a yes vote because Scotland's economy is stronger than the UK's."

He added that support for the yes vote had been as high as 48% in recent polls.

He said: "We are looking forward to the debate as an opportunity to communicate the positive message why Scotland can, should and must have the powers of an independent country."

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