With just under 5 weeks to go until the independence referendum on 18 September, the debate has reached new levels of intensity since last week’s televised debate between First Minister Alex Salmond and Better Together leader Alistair Darling. In particular (and if you’ll forgive the technical jargon) there has been quite the stooshie over currency. If you haven’t been following that, you can find some of the media coverage here, here, here, here and here.
The headline point is that it seems we now have some insight into the Scottish Government’s ‘Plan B’ alternative to their preference of a currency union (though it is still not expressly acknowledged as such), which appears to be continuing to use Sterling informally after independence – an option the pro-Union parties have dubbed the ‘Panama option’. You can find some analysis of what that means from Forbes here and here (the more strident comments are of course those of the authors alone!).
We have commented extensively on the legal aspects of the currency question, and you can find our thoughts collated at this post.
Long-term readers of this blog will know that we in Brodies’ Public Law & Regulatory team have been sharing our analysis of currency and other issues since the debate on Scottish independence began in earnest in early 2012. Given that the referendum is fast approaching, and in recognition of the increased demand for clear, accessible and impartial information on the key issues, we have now created a webpage collating our insights into Scotland’s Constitutional Future. This page is a hub of news, blog posts and commentary regarding the referendum, and where you will find all of our expert analysis of the potential legal implications of a ‘yes’ or ‘no’ vote. To view our new webpage please click here.
On August 15, 2014