Currency expert and former UK regulator, Chris Cook, argues that the debate over Scotland's post-independence currency is 'ill-founded'
Scottish News: Scottish News: A Scottish Currency – Plan A Plus
The rejection by all the Westminster parties collectively of the SNP's Plan A for a post independence UK currency union has elicited a string of possible Plan B solutions, several of them already considered and rejected as inferior to Plan A by the SNP's expert group of 'wise men'.
But the current debate is ill-founded, since the UK can have no more control over who uses the £ symbol as a unit of account, than they can have control over the use of metres and kilogrammes. As for currency, which is not necessarily the same thing as a unit of account, any number of countries 'peg' their currencies to a stronger currency as a unit of account.
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