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Tuesday 22 July 2014

George Soros: Separate currency for independent Scotland 'dangerous'

Published 12/03/2014|12:18

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To match Interview SOROS/...Billionaire financier George Soros speaks at a Reuters Newsmaker event in New York September 15, 2010. Soros said on Wednesday that Japan was right to intervene in foreign exchange markets to bring down the value of the yen. REUTERS/Mike Segar (UNITED STATES - Tags: BUSINESS)...A
Billionaire financier George Soros. Photo: Reuters

Billionaire financier George Soros said today it would not be practical for an independent Scotland to keep sterling but that a separate currency would be "potentially dangerous".

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"I don't think that Scotland leaving and becoming independent and yet remaining part of sterling and (the) Bank of England is actually practical," Soros said in London.

He said an independent currency would be "very inefficient and potentially dangerous", adding that the alternative was for Scotland to become a member of the euro zone.

Several business leaders have recently expressed concern about a vote for independence.

 

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