Alex Salmond is facing an unprecedented challenge to produce a 'plan B' for an independent Scotland's currency in the wake of his disastrous TV debate with Alistair Darling.
The First Minister is being urged to finally come clean by
business chiefs, top lawyers, economists, academics and senior members of his
pro-independence campaign.
But a stubborn Mr
Salmond refused to veer from his proposal to keep the British pound, resorting
once again to a reckless threat to default on Scotland's share of the national
debt if he cannot get his way.
The SNP leader was in bullish mood yesterday despite his
performance in Tuesday night's TV showdown, which a snap poll found that former
Chancellor Mr Darling had won by 56 per cent to 44 per cent.
Mr Salmond claimed: 'I think everybody knows now that we are
in a real position of possible victory. We are the underdogs - I relish that
position.' However, the First Minister arrived more than an hour late at a
conference yesterday amid rumours that he had been holding a post-mortem with
his advisers.
He also made an unusual appearance at the SNP's weekly group
meeting in Holyrood in an apparent bid to shore up support, while Nationalists
in the parliament were privately admitting they were disappointed by his
performance. Now SNP strategists are desperate for more debates in the hope of
a recovery, and a BBC showdown is now set to go ahead on Monday, August 25.
He has refused to draw up a 'plan B', such as a separate
Scottish currency pegged to the pound, joining the euro, or using the pound
unilaterally in the way that East Timor and Panama use the US dollar - socalled
'dollarisation'.
Last night, lawyers including Donald Findlay QC and
politicians such as Jim Sillars joined a growing chorus of demands for an
alternative to a currency union.
Owen Kelly, chief executive of Scottish Financial Enterprise
- whose members include Lloyds Banking Group, RBS, Aviva and Standard Life -
said: 'All of the currency options would
have serious implications for the financial services industry and no analysis
from any industry source suggests a currency union is likely. It would
therefore be prudent for businesses to plan on the likelihood of a new currency
or dollarisation.'
Further reading here:
No
pound, no euro: With a vote on Scottish independence imminent, why Scotland
needs a plan C
'You
are really scrabbling around now!' Alistair Darling takes the fight to Alex
Salmond in first live TV debate on Scottish independence
Scottish Independence 'Makes No Economic Sense', Warn Experts
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