George Kerevan: We’ll pay high price for pound
WHY are Labour and Conservative politicians so set on rejecting a currency union with an independent Scotland? Sure, there are technical issues regarding how such an arrangement would be managed. But the vehemence of the rejection of the notion is both surprising and personal.
For Instance, Ed Balls says he will refuse to serve as Labour’s Chancellor of the Exchequer if a currency union is created. I understand Nye Bevan resigning from the Labour government in 1951 after the introduction of NHS prescription charges. (For younger readers, that’s when Labour politicians believed in a free health service.) But staking your political career on something as esoteric as the lender of last resort? What’s got into Ed?
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