British finance minister George Osborne warned Scotland on Thursday it cannot keep the pound if it votes for independence in a Sept. 18 referendum.
“The pound isn’t an asset to be divided up between two countries after a break-up as if it were a CD collection,” Osborne said in a speech in the Scottish capital.
“If Scotland walks away from the UK, it walks away from the UK pound.”
Osborne said that there was no legal reason why Britain should share the pound with Scotland and that Scottish debt issuance would face “punitively high interest rates” in the case of secession.
via SOURCE
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.