PoliticsScottish referendumcurrency unionScotland Referendum

Alex Salmond's Currency Union Plan 'A Dead Parrot', Warn MPs

MPs Mock Alex Salmond's 'Dead Parrot' Plan To Keep The Pound
Asa Bennett
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ABERDEEN, SCOTLAND - FEBRUARY 17: Alex Salmond, Scotlands First Minister addresses a Business for Scotland event on February 17, 2014 in Aberdeen, Scotland. Scotlands first minister mounted his defence for independence following a weekend of pressure on whether Scotland could keep sterling as its AA currency or expect a smooth entry into the EU. (Photo by Jeff J Mitchell/Getty Images)
Jeff J Mitchell via Getty Images

Alex Salmond's hopes of keeping the pound in the event of Scotland gaining independence are no more than a "dead parrot", MPs have warned.

In a scathing assessment of the Scottish First Minister's blueprint for an independent Scotland, the Commons Scottish Affairs committee said that no chancellor could agree to share the pound through a currency union "without totally destroying both their political and economic credibility".

This comes after Danny Alexander, George Osborne and Ed Balls rubbished any prospect on behalf of the three main parties of a currency union being agreed to share the pound with Scotland if it votes for independence in September's referendum.

The committee praised the MPs for their "necessary clarity", explaining: "A joint currency would be against the best interests of both the continuing United Kingdom and a separate Scotland... also because the people of Scotland deserve to know, before the referendum, what the true consequence of their vote might be."

The MPs warned that Scottish independence, and the resultant loss of the pound sterling, would have "far reaching consequences throughout Scotland but nowhere more so than Scotland's financial services industry".

The committee urged the Scottish government "must move quickly to provide information as to how it intends to protect the thousands of jobs dependent upon this vital part of the Scottish economy".

Labour MP Ian Davidson, chair of the committee, said: "There will be no currency union between a separate Scotland and the continuing United Kingdom. No currency union of any kind: no ifs, no buts, no fudges, no deals. We have had complete clarity and openness on this from George Osborne, Ed Balls and Danny Alexander: from the leadership of the three main political parties in the United Kingdom. There is no shadow of doubt. All were unequivocal.

"The Scottish Government tries to give the impression that a currency union is still a possibility. It is not. This parrot is dead."

A spokesperson for First Minister Alex Salmond dismissed the "lame" report, saying: "An independent Scotland will keep the pound - as conceded by the unnamed UK minister caught telling the truth by saying 'of course' there will be a currency union.

"The pound is as much Scotland's as it is England, Wales and Northern Ireland's."

Scotland's Independence Bid
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Scottish national identity dates back to at least the Middle Ages, hundreds of years prior to the Scottish wars of independence that are so familiar to "Braveheart" movie fans everywhere. In fact, hundreds of Scottish clans still gather throughout the year to commemorate their ancestry and maintain their cultural identity. (credit:Andy Buchanan/AFP/Getty Images)
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The BBC notes that the U.K. is one of only three countries that do not have a written constitution (the other two being Israel and New Zealand).

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Both U.K. Prime Minister David Cameron and Scottish First Minister Alex Salmond are trying to win the hearts and minds of the Scots, but not always to great success.

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President Obama ruffled a few feathers when he announced that the U.S. supports a "strong, robust, united and effective" United Kingdom. Obama added, however, is that it is "up to the people of Scotland" to decide on potential independence from the United Kingdom.

Scotland's First Minister, Alex Salmond, brushed off the comment, before responding with a tweet re-appropriating the American president's election campaign slogan, writing: "Our message to the people of Scotland is: ‘Yes We Can.'" (credit:AP)
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There was outrage when a Scottish charity tweeted that Harry Potter author JK Rowling was "a bitch" for donating £1 million ($1.7 million) to a campaign in favor of keeping Scotland part of the U.K. (The charity later said its Twitter account had been hacked.)

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Roughly 5 million people living in Scotland will vote in September's "yes"/"no" referendum. While 1.15 million Scots who are living outside of the country won't be allowed to vote -- Sean Connery is one of them -- certain foreign nationals living in the country, as well as 16- and 17-year-old are allowed to register. As Bloomberg notes, the inclusion of resident non-Scots is unusual, as referenda are usually based on nationality, not where you live. (credit:Getty Images)
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One of the central issues surrounding the Scottish bid for independence is the question of whether an independent Scotland would retain the Sterling Pound. Scottish First Minister Alex Salmond has advocated keeping the British currency to assure smooth business transactions.

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The "Union Jack" flag was born out of the union of the Scottish and English monarchies in the 17th centuries, and was updated when Ireland united with Great Britain in 1801. But with the possibility of Scotland's independence from the U.K., the future of the flag could be in jeopardy since it consists of overlays of the English, Scottish, and Irish designs.

Brits who are not paying attention to the independence debate might sit up and take notice when they see some of the more zany alternative designs suggested by flag experts.
CLARIFICATION: The language of this post was changed to reflect that the design of the "Union Jack" changed after Ireland united with Great-Britain in 1801. (credit:Getty Images)
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