Mr Salmond told the BBC's Politics Scotland programme: "Sterling is not owned by George Osborne. Our position is, let's use sterling until we're able to take a decision on the euro."So Ministers believe that the Bank of England takes account of economic conditions in Scotland when setting interest rates. Ha, ha, ha ...
UK ministers say Mr Salmond's position is flawed because interest rates would continue to be set by the Bank of England. They say that could leave a breakaway Scotland with less power than now because the Bank would no longer have to take account of economic conditions north of the border when setting interest rates.
16 January 2012
Joke of the day
From The Independent (here):