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English law cannot stop Scots being sterling squatters

In today’s world of global business and finance, people make agreements in whatever currency they like and under whatever legal system they choose.

Currency unknowns weigh on an independent Scotland

Whatever Mr Salmond may say, there has to be a plan B.

Scottish independence matters less than you think

The centre of political gravity in Scotland is far to the left of that of the UK and that is at the centre of the concerns – widely held but little expressed – of Scottish business over independence.

The oft-forgotten basics of negotiation

Negotiations over Scottish independence are framed by the observation that neither the rest of the UK nor the EU has anything significant to gain from such negotiation – or any wish to conduct such negotiation at all.

A currency is anything that two people agree is a currency

Money is a confidence game; its value depends entirely on the willingness of other people to accept it.

Sinister or silly, protest politicians are united in grievance

The inability of democratic politics to handle the aftermath of the 2008 financial crisis has threatened to undermine the apparent consensus on liberal democracy and lightly regulated capitalism that emerged following the fall of the Berlin Wall.

Sovereign Scots may have to drop sterling

If I represented the Scottish government in the extensive negotiations required by the creation of an independent state, I would try to secure a monetary union with England, and expect to fail.

The Economic Challenges Facing an Independent Scotland

Many of you will be aware of a poll that was conducted in 2011 in the Scottish Social Attitudes survey. Respondents were asked how they would vote on independence if they could be sure they would be £500 better off. That question produced a 2:1 majority in favour. Then they were asked how they would vote if they would be £500 a year worse off. That question produced a 2:1 majority against.

Given a choice voters opt for safety

Confronted with the specifics, rather than the principle, of constitutional change, many voters revert to the status quo.

Scotland’s debate lacks seriousness

What would an independent Scotland actually be like? The only sensible answer is that no one really knows.