.gif)
Thursday 30 Jan 2014 @ 11:08
WiredGov Newswire (news from other organisations)
WiredGov Newswire (news from other organisations)
 Printable version
|
 E-mail this to a friend
|
CBI responds to Mark Carney speech in Scotland
The CBI responded to a speech in Edinburgh by the Governor of the Bank of England, Mark Carney, discussing the technicalities of currency unions.
John Cridland, CBI Director-General, said:
“The UK Government has made clear that a currency union with an independent Scotland would bring with it significant challenges, including the fact that interest rates and borrowing costs would be set outside Scotland.
“As the Governor highlighted, successful currency unions need strong fiscal agreements and a banking union, with common supervisory standards and resolution mechanisms. The negative effects of not having these structures in place have been starkly illustrated by the Eurozone crisis.
“This underlines why the CBI believes that the nations of the United Kingdom are stronger together and benefit in many ways from our single market and single economic, fiscal and regulatory frameworks.”
