Here’s a nice clear article by Iain Macwhirter about currency options for an independent Scotland. He looks at the experience of Slovakia which entered a brief currency union with the Czech Republic before being forced to go its own way, eventually joining the euro in 2009. He’s careful not to make direct comparisons with Scotland’s position as the circumstances but Slovakia shows that both the money markets and the euro-bashers can get it spectacularly wrong. There are no hard facts when it comes to economic forecasting, only opinions.

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