Bank of England Governor Confirms Contingency Plans After Scottish Bank Run Warning

The Bank of England Governor says uncertainty over a separate Scotland's currency could cause financial instability following warnings people would move their savings south of the Border
Bank of England Governor Confirms Contingency Plans After Scottish Bank Run Warning

by Simon Johnson | The Telegraph | August 13, 2014


The Bank of England’s Governor has confirmed contingency plans have been drawn up following warnings of a run on Scotland’s banks if the nationalists win next month’s independence referendum.

Mark Carney said that uncertainty over a separate Scotland’s currency could cause financial turmoil as the Nationalists continued to refuse to spell out their Plan B to sharing the pound.

In a further blow to Alex Salmond, he confirmed the bank would have no input in whether a currency union with an independent Scotland would happen and the decision would rest entirely with his political masters.

The Chancellor, Shadow Chancellor and Chief Secretary to the Treasury have ruled out a eurozone-style currency union with a separate Scotland but the First Minister has insisted they are all bluffing.

Read more


Infowars.com Videos:


Comments are closed.