SNP leader Nicola Sturgeon has long campaigned for an independent Scotland, arguing more recently the change in circumstances because of Brexit has offered her a fresh mandate to revisit the contentious question, despite the Scottish people in a 2014 referendum rejecting calls to quit the UK by 55 percent to 45 percent. But Scottish broadcaster and former chairman of the Scottish Labour Party, George Galloway has argued the plan would leave the Scottish economy in ruins because it would be unable to use English currency, the clue being in the name the “Bank of England”.
Asked about Ms Sturgeon’s plans to sever ties with the United Kingdom, Mr Galloway argued it would be foolish to think an independent Scotland could use English sterling as the UK Treasury would not accept it in a million years.
He said: “Of course some fools think it would be possible for an independent Scotland to use the English currency.
“The clue being in the name, the Bank of England.
“The Bank of England, the British Treasury, would not in a million years countenance a country which had left us, and would presumably still be haggling over the terms, the share of the national debt, but most importantly over which the British Treasury had absolutely no control.
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“It would be like getting a divorce and giving your wife your credit card.
“And allowing her to continue to use your credit card. It would be madness.”
The former Labour MP went on to explain precisely why it would be utterly devastating for Ms Sturgeon to pursue the “reckless and dangerous” goal of economic secession from the UK.
He said: “So, they will not be able to use the Pound. If they use the Euro it will cause utter devastation of the Scottish economy.
“They could, of course, invent their own currency. They could call it ‘Monopoly money’, or whatever.