In a astounding development the Labour Party has joined with the Conservative-Liberal coalition to attack the idea of Scottish Independence. Ed Balls, the shadow chancellor, has stated that there will be no currency union with the Scots if in a democratic referendum the Scots vote for independence. This will mean that Scots will either form their own currency or adopt the union, either way this spells bad news for English, Welsh and Northern Irish business, since currency transactions will cost billions of pounds, and will hurt the economy of each.
Ed Balls, who as enonomic adviser to unelected PM Gordon Brown, advised ligh touch regulatory policy towards banking, leading to the banking crisis and recession. In 2011 he finally admitted the role he played in the Global crisis.
Should anybody in the western hemisphere really be taking advice from a person who admits that his economic policis destroyed millions of lives.
Someone should ask him the real reason why he fears Scottish independence. Is it because the Labour party will lose 40 odd Scottish MPS? Or is it because the British state will lose Scotland as a launching pad for nuclear weapons? Or does he fear losing the oil revenues being used to service UK debt?