Pound falls before the referendum – Swedish Dagbladet

Pound falls before the referendum – Swedish Dagbladet

For over 300 years Scotland has been part of the UK. As recently as a few weeks ago and spoke everything to no side and “Better Together” campaign would get a clear majority in the referendum on independence.

But with just a week to go until election day on 18 September the yes side had advanced greatly. In the latest poll from YouGov published in the Sunday Times last Sunday leading independence side by 51 per cent against 49 It is the first time that the yes side leads. Other measurements show a narrow lead for the No side.

The market has now drowsily jerked to and on Monday dropped the London Stock Exchange and the pound fell sharply. In dollar terms when the pound is now the weakest level since last November.

– a yes vote in the referendum on September 18 would trigger the biggest constitutional crisis since World War II in Britain, says a senior analyst at a major brokerage firm in London SvD Business.

Just currency is one of the big question marks for an independent Scotland. Those who advocate that it pulls away from the Union had coolly counted on to keep the pound as its currency, which brusquely rejected by the British finance minister George Osborne last winter.

– The pound is not something you share between two countries as if it were a CD collection after a divorce, he noted in February and insisted that Scotland leaving the pound behind if you decide to leave the UK.

Scotland’s deputy Government Nicola Sturgeon said that Osborne scams, accusing London of trying to force the Scots to vote against independence.

– There is no one who can stop the Scots from continuing to use the pound as currency, but most likely it will be a transitional period of it is yes, and the Scots get a few years to introduce its own currency, says one analyst.

“Better Together” campaign, which is struggling to Scotland should stay Union with Great Britain, emphasizing safety and recalls happy voters that two major Scottish banks rescued by the Central Bank during the financial crisis.

Independence advocates say that Scotland’s economy is strong enough to stand on its own. They hope for EU membership and be able to retain both the pound as its currency and the Bank of England as a central bank.

Click here to go to the debate

Here you can discuss anything that moves in stocks, business or economics in general. If you do not already have an SvD subscription, you can create an account for free here.