Even though The Fiscal Commission group stated that Scotland could exist in a monetary union with the UK, George Osborne, the current Chancellor of the Exchequer, stated that there would be no currency union if Scotland left the union. ... Mark Carney, the current Governor of the Bank of England expressed that a currency union would require tight fiscal rules for Scotland: it would have no control over monetary policy, meaning interest rates, money supply, and inflation. Given that in the white paper Alex Salmond stated that Scotland would have complete fiscal control, this was in contradictio...

• Word Count: 1063
• Approx Pages: 4
• Grade Level: Undergraduate