Krugman Warns Scotland

Krugman Warns Scotland: ‘Be Very Afraid’ – http://huff.to/WFYAx6

All good points.  Lack of control of money policy has been devastating for many Euro countries, allowing Germany to break them at will.

Ecuador on the other hand is doing ok by using US currency, which has a benefit that other countries are unable to attack it for unpopular decisions by sending the currency into a spiral. 

The cost or benefit of such a course depends on the facts of a specific situation.

The Scots should think carefully about their situation before making an absolute commitment.

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