Nobel Laureate Says U.K. Can’t Stop Scotland Using Pound
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The U.K. can’t prevent an independent Scotland from keeping the pound, and a formal currency union would be an “excellent arrangement,” Nobel prize-winning economist James Mirrlees said.
Speaking in a Bloomberg Television interview today in Lindau, Germany, he said the risks associated with sharing the pound were overblown. Mirrlees, a Scot, is a member of a panel advising Scotland’s nationalist government on the finances of independence. The group, which also includes Joseph Stiglitz, recommended Scotland seeks to retain the pound.