ASI Senior Fellow is quoted in The Guardian on Mayor of London’s ‘Europe Report’

Senior Fellow of the Adam Smith Institute, Tim Ambler, was quoted in The Guardian, arguing that the Mayor of London’s ‘Europe Report’ has a “number of failings”, making it unreliable:

Tim Ambler, a senior fellow of the Adam Smith Institute, described The Europe Report: a Win-Win Situation as an “important review” but with “a number of failings” including offering findings “we cannot rely on”. He contended that Lyons is “not specific” about what would be needed to bring about what he concludes would be the best of four theoretical scenarios for London, this being the UK staying in the EU “but with substantial reforms”.

Read the full article here.

Sam Bowman discusses new ASI report “Quids In” on CNBC

Research Director of the Adam Smith Institute and author of the report “Quids In: How sterlingization and free banking could help Scotland flourish”, Sam Bowman, appeared on CNBC to discuss the paper’s proposed policy of ‘adaptive sterlingization.’

The report, “Quids In: How sterlingization and free banking could help Scotland flourish”, can be read and downloaded for free here.

Answer to Scots’ currency dilemma- Sam Bowman writes for the Yorkshire Post

Ahead of tonight’s BBC referendum debate, Research Director and author of the ASI’s new report “Quids In: How sterlingization and free banking could help Scotland flourish”, Sam Bowman, writes for The Yorkshire Post:

SCOTS HAVE rightly focused on the question of currency as they prepare to decide whether to vote for or against independence next month. In the last television debate between Alex Salmond and Alastair Darling, the SNP leader struggled to explain how Scotland would cope without a formal currency union with the rest of the UK. Tonight, he will need to do better.

In a new paper for the Adam Smith Institute, I offer a solution to Salmond’s problem. I argue that an independent Scotland should continue using the pound sterling without a currency union. Combined with a system of financial reform based on Scotland’s most successful period in economic history, this system of ‘adaptive sterlingisation’ could give Scotland a highly stable banking system and economy in the long run.

The report, “Quids In: How sterlingization and free banking could help Scotland flourish”, can be read and downloaded for free here.

ASI report “Quids In” is featured in CityAM, The Huffington Post, and The Sun Online

A new report from the Adam Smith Institute, “Quids In: How sterlingization and free banking could help Scotland flourish”, was featured in CityAM, The Huffington Post and The Sun Online.

The report argues that an independent Scotland could have a more stable economy than the rest of the UK if adopted a policy of, what it calls, ‘adaptive sterlingization’, which combines unilateral use of the pound with financial reforms to remove government protection of established banks.

From CityAM:

Yesterday the Adam Smith Institute (ASI) published a report arguing that Alex Salmond’s plan B, using sterling without a currency union, should actually be plan A. The report outlined how “adaptive sterlingsation” could benefit the Scottish economy by acting as a market-based mechanism to stabilise demand during a downturn.

Furthermore, the repeal of financial regulations that privilege established banks could keep Scottish banks prudent as there would be no deposit insurance or central bank to act as a lender of last resort, according to the ASI.

From The Huffington Post:

A new report from the Adam Smith Institute said that “sterlingisation”, combined with reforms to banking regulations, could lead to banks taking fewer risks, reducing the likelihood of future financial crises.

Sam Bowman, research director at the Adam Smith Institute and the author of the report, said Scotland was “almost uniquely primed for such a system of ‘adaptive sterlingisation’”.

The prospect of Scotland using the pound with the formal agreement of the rest of the UK, and without the back-up of having the Bank of England as a lender of last resort, was raised as Salmond comes under increasing pressure in the run-up to next month’s referendum to set out an alternative to a currency union.

From The Sun Online:

A report by the Adam Smith Institute claims our banks would take fewer risks after independence if they cut ties to the Bank of England.

The study says the result would be greater stability than in the UK — limiting the danger of another disastrous crash like in 2008.

Author Sam Bowman, research director at the Institute, said: “The path outlined would go almost unnoticed by the average Scot.

“But at the next big economic shock they might wonder why their system was so much more stable than that of the country they left behind.”

 

The report, “Quids In: How sterlingization and free banking could help Scotland flourish”, can be read and downloaded for free here.

 

Kate Andrews comments on Venezuelan president’s plan to fingerprint supermarket shoppers in CityAM

The Adam Smith Institute’s Communications Manager, Kate Andrews, commented on the Venezuelan president’s plan to implement fingerprinting systems in supermarkets in CityAM:

The President of Venezuela, Nicolas Maduro, has announced plans for a major mandatory fingerprinting system to combat the increasingly dire food shortages and rampant smuggling afflicting the Latin American state…

…Communications manager at the Adam Smith Institute, Kate Andrews, said:

A system that needs to implement heavy surveillance in local food markets or deploy 17,000 troops along the border to prevent the smuggling of staple food items is a failed system indeed. Rather than allocating time and resources into policing the purchases of apples and pears, President Maduro should abolish price controls, creating an economy where commerce and consumption are encouraged, not criminalised.

Read the full article here.