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currency Union would cause great damage

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to both the UK and the Scottish

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economies costing jobs and money which

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could result in UK taxpayers promising

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to bail out Scottish Banks and damage

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the Sterling's value in the

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international markets at least that's

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what Osborne is saying anyway so let's

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talk this through we've got George

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Galloway right here he's MP for the

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respect party in Britain so the question

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is to begin with do you think that Mr

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George Osborne is using bullying tactics

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or has Mr

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Salmon's pick and choose options run out

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which side do you sit

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on well I think that the sound and sight

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of George Osborne lecturing the Scottish

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people is a difficult one for many to

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swallow but at the same time his message

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is unequivocal and cannot be avoided it

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is not possible to be an independent

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state whilst using someone else's

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currency uh because the people who issue

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the currency as opposed to use the

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currency are the people who will set the

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conditions the levels of public

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expenditure the rate of Taxation and so

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on all fiscal and monetary Powers must

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obviously remain with the country that

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is issuing the currency and uh Mr sammon

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I think has made a huge blunder in

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claiming that you can have Independence

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whilst using the UK pound he ought to

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have had the courage of his convictions

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and said either that Scotland would have

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its own currency or would join the Euro

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Zone I know why he did neither of those

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first of all because the Euro doesn't

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have a particularly good name here and

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hasn't been going terribly well and

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secondly because the example of say

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Iceland or Slovakia perhaps even better

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where the Slovakian currency lasted for

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37 days before the World Bank and the

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IMF moved in and effectively colonized

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the country uh was not palatable as an

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alternative but uh you can't really have

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an independent Scotland with an English

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Queen a UK pound uh still in NATO and

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subject to American Le uh military

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political decisions

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and of course also still be in the EU

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and subject to all the strictures that

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come with that if there is a yes vote in

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September what is the worst case

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scenario for the Scottish

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economy or the worst case is a race to

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the bottom that's the worst case for the

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working people at least a race to the

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bottom provoked by a low tax low public

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expenditure thatcherite ronom XS regime

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in London forcing a Scottish state to

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chase them all the way to the bottom to

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cut their taxes even lower to make their

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public expenditure even less to make

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even more people unemployed and uh

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Scotland would then be uh independent in

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the sense that it could fly its own flag

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from Edinburgh Castle uh but the

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standard of living of people on both

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sides of the border with virtually

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Perpetual right-wing conservative rule

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in England Shor as it would be of 59

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anti-conservative MPS taken out of

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Westminster that would be a disaster for

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working people on both sides of the

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border and it's the interest of working

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people that I represent okay George

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Galloway we leave it there thank you for

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talking to us today very clear on where

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you set uh where you sit on the agenda

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there thank you very much indeed and

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another political and economic

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relationship that is on tender hooks

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right now this time it's between

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Switzerland and the European union now

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this is following the Swiss parliament's

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decision to