Auld Alliance Breaks Over euro
THE SNP is backing away from taking an independent Scotland into the Eurozone and towards maintaining Sterling as the currency of a newly-created state.
The Nationalist-led Scottish Government has said it is opposed to proposals put forward last week by German Chancellor Angela Merkel and French President Nicolas Sarkozy to harmonise taxes such as corporation tax. Such powers should be the responsibility of the Scottish Parliament, the government says. MEPs said last night that such a stance would "blow a hole" through any idea that Scotland could join the Eurozone, with analysts predicting that tight fiscal integration will be required of all countries in the zone as part of current efforts to lift it out of economic strife.
When even the Scots Nats won't swallow it you know it must be bad.