John Curtice argues that the suggestion that an independent Scotland could not keep the pound has backfired. I suspect that this has more to do with Alex Salmond's canny exploitation of a sense of victimhood than the merits of the case. What I find surprising is that the arguments that Salmond makes for a currency union are classic unionist arguments. Why introduce transaction costs between Scotland and the rest of the UK, and so on? I have made these arguments myself.
What is weird though is to hear the leader of the Scotttish Nationalists make them. If Alex Salmond wants Scotland to keep the pound why not just vote for the union?
UPDATE
I see that Paul Krugman has made a comment on the union debate here. I can see bits to both like and dislike, but would it not be an idea for Alex Salmond and co. To start treating the issues seriously?
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