The UK’s shadow chancellor Ed Balls has said that Scotland’s “least worst” option following a yes vote would be to lobby for euro membership as an alternative to the pound.
Salmond has stated that an independent Scotland would keep the pound sterling as its unit of currency, despite all three leading British political parties stating strenuous opposition to the idea. However, despite claims from politicians that keeping the pound would not be possible, Bank of England Governor Mark Carney has said that, should Scotland vote yes, the bank would support them in making a transition.
Should an independent Scotland be unable to maintain the Sterling unilaterally, its three main currency options are thought to be the creation of a floated Scottish currency, a Scottish currency that is pegged to either the Sterling or the dollar, and lobbying to join the Euro.
Salmond has, so far, refused to answer questions on what will happen if plans to keep the pound indefinitely were to fail. Commenting on this silence, Balls said: “It’s not what I would choose for Scotland. And I am not surprised at all that Alex Salmond doesn’t want to admit it now, but joining the euro would likely be his only realistic plan B.”
A total of US$4.88 trillion of debt has been sold so far this year reports Dealogic, close to the level of 2007 when US$4.91 trillion of bonds were issued over the same period.
The German industrial gases group has ended talks with its US peer on a potential union to establish a market leader.
The US exchange said it will introduce incentives from next month to make lower-volume exchange traded funds easier to buy and sell.
A survey of 1,000 merger and acquisition dealmakers finds that seven in 10 expect Brexit uncertainty to limit the number of deals.