The world's most-read Scottish politics website

Wings Over Scotland


Scotland and the Euro – the truth

Posted on November 12, 2011 by

The debate about whether an independent Scotland which joined or remained in the EU would be forced to adopt the Euro – and therefore be liable for a multi-billion-pound contribution to the eurozone bailout fund, the subject of much Unionist scaremongering in recent days – would appear to have reached a definitive end. A letter in today's Scotsman from Drew Scott, Professor of European Union Studies at the University of Edinburgh, backs up a blog on Thursday from SNP activist and EU law graduate Stephen Noon by noting that regardless of current rules which say new members must join the currency, the EU also stipulates that no member can do so without first being a member of the Exchange Rate Mechanism for two years.

ERM participation, however, is not compulsory for new members. And therefore any country joining the EU – whether as a successor state or from scratch – which doesn't want to join the Euro can simply elect to remain outwith the ERM, and therefore put off joining the Euro indefinitely. Noon points to the specific chapter and verse in EU regulations, and Professor Scott backs his conclusion. Scotland CAN join the EU but stay out of the Euro. The argument would seem to be over.

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

  • About

    Wings Over Scotland is a (mainly) Scottish political media digest and monitor, which also offers its own commentary. (More)

    Stats: 6,666 Posts, 1,201,500 Comments

  • Recent Posts

  • Archives

  • Categories

  • Tags

  • Recent Comments

    • Jay on How it happened: “Ros, in among 3 years worth of articles in Euromaidan Press you should find at least one showing the percentage…Nov 7, 23:56
    • Jay on How it happened: “Might any shareholder dividends from the US Military Industrial Complex end up in an eastern mediterranean coastal state?Nov 7, 23:45
    • g M on How it happened: “We’ll wait and see of course.Nov 7, 23:34
    • g M on How it happened: “I listened to it and it was a long list of fairly extensive measures he intended to take to break…Nov 7, 23:33
    • Andouilette on How it happened: “No. It was painfully obvious that Mr. Salmond was being stitched up. The orange gibbon is a disgusting waste of…Nov 7, 23:23
    • Jay on How it happened: “Skip, it is a relief to see comments from you. My experience is limited to reading of ‘current affairs’ for…Nov 7, 23:20
    • Billy Carlin on How it happened: “And if Salmond had been found guilty via the lies you would have been saying the exact same thing then?…Nov 7, 22:06
    • Billy Carlin on How it happened: “You are obviously clueless re the Executive Orders Trump put into place during his first term as President re corruption…Nov 7, 22:00
    • Republicofscotland on How it happened: “I haven’t listened to it – but I did listen to a few Americans speak – and in plain language…Nov 7, 21:57
    • Mark Beggan on How it happened: “Did the Democrats think the American electorate were just going to bend over and take like Carlos Alba?Nov 7, 21:51
    • sam on How it happened: “Thanks, Fearghas. Will watch them all.Nov 7, 21:51
    • Fearghas MacFhionnlaigh on How it happened: “Typo 2: FRANZ Fanon (not Frank!). Apologies.Nov 7, 21:36
    • Fearghas MacFhionnlaigh on How it happened: “Typo: Prof Bill ROLSTON (not Royston).Nov 7, 21:33
    • Fearghas MacFhionnlaigh on How it happened: “SCOTLAND AS COLONY – a way forward… The above webpage (posted 3 April 2024) has a number of videos featuring…Nov 7, 21:26
    • Campbell Clansman on How it happened: “They’ll accuse the “judges” not just of corruption but also of being a part of one of their tin-foil hat…Nov 7, 21:15
    • g M on How it happened: “Have a listen to his program for government RoS, sounds like he is serious to me.Nov 7, 21:05
    • g M on How it happened: “Skip, his program for government as announced via social media sounds far reaching. He might have just put himself in…Nov 7, 21:03
    • Aidan on How it happened: “Yes – it’s a total repudiation of reality, which is why this is never going to get near a court…Nov 7, 20:47
    • Campbell Clansman on How it happened: “Aidan, Alf’s blathering on the “Claim of Right” alleged constitutional “conditions” to the Act/Treaty of Union is just that–blathering. Even…Nov 7, 20:37
    • gregor on How it happened: “I was listening to Radio Scotland phone-in this morning, amusingly, while weeding a garden. I normally listen to music.Nov 7, 20:33
    • Jay on The Mandalorian Candidate: “Who are the Editors at BBC Scotland? Who actually took the decision to engage Carlos (not as respectable as jackal)?Nov 7, 20:15
    • Pipinghot on How it happened: “Fuck me. Tell me this is not the Skye bridge activist Andy Anderson please.Nov 7, 20:13
    • Robert Hughes on How it happened: “Whit ! naw , really ? ahahahahaha – man , that’s fckn priceless . Will these poor wee Trump-terrorised infants…Nov 7, 20:03
    • Robert Matthews on How it happened: “FYYFCNov 7, 20:02
    • Meg Merrilees on How it happened: “…well, anyone listening to Radio Scotland phone-in around 9.40 this morning would have heard the opinion of a Scottish journalist…Nov 7, 19:35
    • Hatey McHateface on How it happened: “To me it looks like folk didn’t believe Harris You defo have the experience and credibility to make that assessment,…Nov 7, 19:31
    • Aidan on How it happened: “There have been a number of cases heard in the Supreme Court recently specifically concerning the ability of the U.K.…Nov 7, 19:28
    • Skip_NC on How it happened: “Well, he was in New York City so it was in his commercial interests to be seen as a Democrat.…Nov 7, 19:02
    • Republicofscotland on How it happened: “To me it looks like folk didn’t believe Harris – even though she had a plethora of celebrity endorsements -…Nov 7, 18:44
    • Republicofscotland on How it happened: “We’ll get a glimpse of what direction Trump is taking when this appointment is made. So who will replace that…Nov 7, 18:39
  • A tall tale



↑ Top
52
0
Would love your thoughts, please comment.x
()
x