Can the SNP reverse Brexit?
The SNP claim that if Scotland leaves the UK it can quickly join the EU…
But they don’t remind Scottish voters that to join the EU, a country must meet stringent economic convergence criteria that would mean massive public sector cuts and huge tax hikes.
EU member states have to target a deficit of less than 3%. Even pre-Covid, Scotland’s deficit was far too-high at 8.6%
And to get there we’d need to stop using Sterling, launch a separate currency and establish a new Central Bank, along with associated foreign exchange reserves, which would take years and cost £ billions.
Only then could we join the Eurozone where we’d be forced to adopt the Euro.
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