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  • John Swinney Euro in Indy Scotland2011!10!27

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    Kezia Dugdale MSP
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    Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney responded to a letter from Kezia Dugdale MSP regarding the Scottish Government's position on the Euro. Swinney reiterated that the Scottish Government believes Scotland should retain the pound sterling upon independence, and any decision to join the Euro should only be made based on economic conditions at the time and with approval from Scottish voters in a referendum. Swinney noted a range of economic factors would need to be considered, including the financial stability of Eurozone member states given Scotland may have to contribute to programs like the European Stability Mechanism.

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    Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney responded to a letter from Kezia Dugdale MSP regarding the Scottish Government's position on the Euro. Swinney reiterated that the Scottish Government believes Scotland should retain the pound sterling upon independence, and any decision to join the Euro should only be made based on economic conditions at the time and with approval from Scottish voters in a referendum. Swinney noted a range of economic factors would need to be considered, including the financial stability of Eurozone member states given Scotland may have to contribute to programs like the European Stability Mechanism.

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    34 views1 page

    John Swinney Euro in Indy Scotland2011!10!27

    Uploaded by

    Kezia Dugdale MSP
    Cabinet Secretary for Finance, Employment and Sustainable Growth John Swinney responded to a letter from Kezia Dugdale MSP regarding the Scottish Government's position on the Euro. Swinney reiterated that the Scottish Government believes Scotland should retain the pound sterling upon independence, and any decision to join the Euro should only be made based on economic conditions at the time and with approval from Scottish voters in a referendum. Swinney noted a range of economic factors would need to be considered, including the financial stability of Eurozone member states given Scotland may have to contribute to programs like the European Stability Mechanism.

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    of 1

    Cabinet Secretary for Finance, Employment John Swinney MSP"

    and Sustainable .

    Growth ""

    FIT:0845 7741741
    E: scottish.ministers@scotland.gsLgov.uk

    The Scottish Government


    Riaghaltas na h-Alba

    Ms Kezia Dugdale MSP The Scottish Parliament EDINBURGH EH991SP

    Your ref: KS-04/10/11 Our ref: 2011/1020985 1\0 October 2011

    Firstly, I would like to thank you for your letter dated 4th October 2011, regarding the Scottish Government's positi6n on the Euro. The Scottish Government's position is clear. We believe that Scotland should retain Sterling on independence and that a decision "on joining the Euro should only be taken based upon economic conditions at the time and only with the approval" of the Scottish people in a referendum. This was originally outlined in the White Paper "Your Scotland, Conversation", available at the following link: http://www.scotland.gov.uk/Publications/2009/11/26155932/0 Your Voice: A National

    (Page 31)

    The decision to join the Euro would require" a wide range of evidence to be considered. One" " of these potential considerations would be the economic conditions at the time and the financial stability of member states in the Euro Area. This will be an important factor, as membership of the monetary union could require a future funding contribution to programmes such as the European Stability Mechanism (ESM). I hope. this information is helpful and addresses the questions raised by your constituent.
    ~ L

    J,

    JOHN SWINNEY

    J~ ---

    St Andrew's House, Regent Road, Edinburgh www.scotland.gov.uk

    EH13DG
    Por."E.'\iTOR IS reOPl

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