Alexander rules out any currency union with an independent Scotland
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"There will not be a currency union in the event of independence."
So says a joint statement issued on Monday by Chancellor George Osborne and Chief Secretary to the Treasury Danny Alexander.
The Lib Dem MP for Strathspey and Badenoch joined his Chancellor in declaring: "There will not be a currency union in the event of independence. The only way to keep the UK pound is to stay in the UK.
"Walking out of the UK means walking out of the UK pound.
"A currency union will not work because it would not be in Scotland’s interests and would not be in the UK’s interests.
"Scotland would have no control over mortgage rates, and would be binding its hands on tax and funding for vital public services.
"The Scottish Government are proposing to divorce the rest of the UK but want to keep the joint bank account and credit card.
"The UK would not put its taxpayers at risk of bailing out a foreign country and its banks.
"Parliament wouldn’t pass it, and the people wouldn’t accept it.
"Any suggestion to the contrary is wrong."
