The Scotland Tonight Feature on the ASI’s “Quids In” Report

On Thursday (21 August 2014), STV’s Scotland Tonight featured the Adam Smith Institute’s new report “Quids In: How sterlingization and free banking could help Scotland flourish”.

The feature included an interview with the report’s author and Research Director of the Adam Smith Institute, Sam Bowman. It also included an interview with the Executive Vice President of Atlas Bank in Panama, Ariel San Martine-Mendez.

 

 

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

A Sterling Solution for an Independent Scotland – Sam Bowman writes for The Wall Street Journal Europe

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 Wall Street Journal Europe:

The Scottish independence debate has been dominated by one question: What currency would an independent Scotland use? Ever since Chancellor George Osborne ruled out the prospect of a formal currency union between Scotland and the rest of the United Kingdom, Alex Salmond’s Scottish Nationalists have evaded the question, threatening their chances of victory in next month’s referendum on a split from the U.K.

But if Scots looked to their own history they would find a surprisingly simple solution. The best choice for Scotland, even better than a currency union, would be “adaptive sterlingization”—use of the British pound without a currency union with the rest of the U.K., combined with financial reforms that removed deposit insurance, reserve requirements and central-bank protections from banks.

Read the full article here.

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

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.

Sam Bowman discusses new ASI report “Quids In” on BBC Scotland

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 BBC Scotland 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.

Sam Bowman speaks to BBC Radio Scotland and BBC Radio Wales about new ASI report “Quids In”

Research Director of the Adam Smith Institute and author of the ASI’s report “Quids In: How sterlingization and free banking could help Scotland flourish” speaks to Good Morning Scotland (BBC Radio Scotland) and Good Morning Wales (BBC Radio Wales) about his proposed policy of ‘adaptive sterlingization’ for an independent Scotland.

Listen to Sam’s interviews here and here.

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 The Guardian, The Sun, The Telegraph, and The Times

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

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 The Guardian:

An independent Scotland that carried on using the pound without the permission of the rest of the UK would have a stronger economy than it does now, a free-market thinktank said on Thursday.

The Adam Smith Institute said the country would not only survive but thrive outside of a formal currency union provided there were changes to the banking system to inject competition and reduce risk-taking.

From The Sun:

Sir Ian Wood said Alex Salmond’s SNP has over-estimated the amount of oil – and tax revenues – by up to 65 per cent.

Better Together campaign lead Alistair Darling said the news was “devastating” for Mr Salmond’s plans.

It came as a think-tank claimed Scotland would “thrive” using the Pound outside a currency union.

The Adam Smith Institute said the “dollarised” economies of Latin America were proof countries can flourish when they adopt another’s currency.”

From The Telegraph:

Yesterday the Adam Smith Institute suggested Scotland would actually benefit from adopting sterlingisation – using the pound without a formal currency union – after independence.

The idea, which has been floated by the First Minister as a potential backup plan, would create a more stable financial system by freeing banks of certain constraints, researchers found.

From The Times:

An independent Scotland could flourish by using the pound even without the permission of the rest of the UK, according to a think-tank.

The Adam Smith Institute points to Panama as a successful example of an economy piggybacking on a neighbour’s currency — the US dollar.

It said it was neutral on Scottish independence but said the the nationalists’ plan to continue with the pound — which many regard as a stumbling block — could work very well.

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