Mark Carney: Independent Scotland Must Sign Up for the Euro to Join the EU

Mark Carney has warned an independent Scotland would have
to sign up for the euro to join the EU

THE DAILY TELEGRAPH: The Bank of England Governor tells MSPs Scotland would have to join the euro in the "fullness of time".

The Bank of England’s Governor has warned an independent Scotland would be forced to promise to replace the pound with the euro if it wanted European Union membership.

In a major blow to Alex Salmond’s economic case for separation, Mark Carney told a Westminster inquiry that all new applicants to the EU have to join the single currency in the “fullness of time”.

He also told MPs it is a “distinct possibility” the Royal Bank of Scotland would have to move its headquarters south of the Border if there is a ‘yes’ vote in September’s independence referendum.

In triple blow to Alex Salmond’s economic case for independence, the Governor said a separate Scotland’s taxpayers would have to guarantee billions of pounds of deposits held by Scottish banks in England. » | Simon Johnson, Scottish Political Editor | Tuesday, March 11, 2014