C'mon Gerry. You know that's a pre-referendum position. In the event of a Yes vote, on The Monday morning then the real discussions will begin and monetary union (of some flavour) will be on the table. It's to RUK's benefit that there is union. And before you mention that its not independence with monetary union, I would ask, is anyone within Europe truly independent ?
I'm sorry, but if you are relying on that you will be in for a very rude awakening. Do you believe that Mark Carney(BofE governor) is taking a 'pre-referendum position'? I don't think so.
And you are quite right that no-one in the euro zone is truly independent. This is at the root of the woes of the euro-zone. Which is why they are promoting common governance in Europe. Fiscal union and european integration is the answer from the eurocrats, giving a central body increased powers over the budgets of member states. The UK has thus far resisted these moves, and is showing continued growth, as distinct from former major european players...France and Germany for example. Scotland will be unable to do so if they apply for membership.
Let me remind you what the position of the BofE is:
"Dealing a sizeable blow to pro-independence campaigners, Mark Carney, Governor of the Bank of England, has said that “a currency union is incompatible with sovereignty”.
Speaking at the TUC Congress in Liverpool, Mr Carney made clear that an independent Scotland would fail to meet the criteria of a successful currency union.
A proper union would require free trade, banking union, and a fiscal backstop, he said.
“You only need to look across the channel to see what happens if you don't have all of those components in place”, said Mr Carney.
The Governor noted the Westminster view of Scottish independence would make creating the conditions for a formal currency union impossible.
Mr Carney's intervention confirmed that the Bank would not aid an independent Scotland in using the pound, leaving Yes campaigners with few options on currency.
"That's just the economics of it", Mr Carney said.
A new Scottish state might choose to use the pound informally, in an arrangement known as sterlingisation, or it might attempt to launch its own currency.
Use of the euro has all but been ruled out by European Union officials, as questions over what currency an independent Scotland might use continue to haunt anti-Union campaigners."
"Thats just the economics of it".....no word of bluff or political posturing there.