The City’s own currency


City of London
Originally uploaded by gm8ty

There's an interesting article in The Scotsman today by George Kerevan.

He argues that the Bank of England, and therefore the British pound, tends to focus far too much on the needs of the City of London, rather than looking at the whole country and trying to balance the needs of all the regions.

I think he's absolutely right, but while his recommendation is for the Bank of England to change, I'd prefer Scotland (and the rest of the UK) to join the Euro, given that the ECB does look at all parts of the Eurozone when making decisions. In other words, Scotland would not suffer a loss of influence at all by replacing the pound with the euro, just the opposite.

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