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Scotland prepares for day of destiny

Scotland's decision day has arrived, with voters north of the border going to the polls today to determine if the country should remain part of the United Kingdom or not.

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Top economist: Ignore 'scaremongering' over Yes vote

One of the world's most eminent economists has said there is "little basis" for what he called "scaremongering" over the consequences of Scottish independence.

Nobel prize winner Joseph Sitglitz's remarks contradict fellow laureate Paul Krugman's claim that Scots should be "very afraid" of a Yes vote in next week's referendum.

Writing in the Scotsman, he criticised the claim Scotland would suffer from having a relatively small economy.

Joseph Stiglitz said there was "little basis" to some of the No campaign's arguments. Credit: Arne Dedert/DPA/Press Association Images

"By an order of magnitude, far more important than size is the pursuit of the right policies."

He also dismissed concerns about currency arrangements, saying the fact Scotland has different "vision and values" to the rest of the UK was more important.

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