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September 04, 2004
The euro on 1 January 2005?
Speculating … what if we adopted the euro on 1 January 2005?
What would be the advantages? It would benefit tourism and the banking and financial sectors. Office blocks currently empty in Edinburgh would be filled by companies relocating from London to take advantage of being in euroland. Some manufacturing and service jobs would also come here. There would be closer economic relations with the continent, and Ireland. Scotland would be no longer be subject to Bank of England interest rates, and Whitehall financial policies.
And the disadvantages? A bit of a headache certainly for Gordon Brown and the Treasury - but then they’re not in Scotland, and our large property owners might not be in favour if they thought it would affect land values. Anything else?
Posted by Simon Holledge at September 4, 2004 04:04 PM