British Chancellor George Osborne threatens independent Scotland with loss of pound

Speaking to business leaders in Glasgow on Thursday September 06, Osborne said an end to Scotland’s unity with England could mean that Scotland would not be able to keep the pound stressing that the pound had "supported more than three centuries of economic and social integration".

Osborne’s remarks come as another example of attempts made by Conservative politicians in London to prevent Scotland from becoming an independent nation.


The British Chancellor said the crisis gripping the eurozone shows that monetary union is not compatible with political independence.

“The members of the eurozone are now faced with what I've described as the 'remorseless logic' - the very lesson of the eurozone crisis - that you can't have monetary union without greater fiscal and political integration”, said Osborne.

Osborne’s economic threats to an independent Scotland comes after the Organisation for Economic Co-operation and Development (OECD) slashed its forecast for the British economy predicting a 0.7% fall in the country’s economic growth despite previously expecting a 0.5% rise.

Nevertheless, Osborne has insisted that there were “positive signs” that the British economy was healing and said he would not change his economic policies despite calls from economic experts and the opposition Labour party.