Former Chairman of FSA casts further doubts on SNP plans for pound

Commenting on former Chairman of the Financial Services Authority Howard Davies' criticism of the SNP plans for an independent Scotland retaining Sterling, Scottish Liberal Democrat leader Willie Rennie MSP said:

"Howard Davies is right to question whether the Bank of England, controlled by the rest of the UK, would be willing to act as a lender of last resort for Scotland.

"It is increasingly clear that SNP plans to have one Bank of England controlled by two finance ministers from different countries, or the "servant of two masters" as Mr Davies characterises it, would be a recipe for economic uncertainty.

"As former Chairman of the FSA he is an expert whose views carry considerable weight.

"Far for securing more control over Scotland's economy separation would lead to less.

"Every time the SNP try to explain their policy on the pound the more confused and muddled the issue becomes.”