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| Version 0 | Version 1 |
|---|---|
| Scottish independence: Welsh first minister 'would veto sterling zone' | Scottish independence: Welsh first minister 'would veto sterling zone' |
| (34 minutes later) | |
| The first minister of Wales has warned that he would try to veto any attempt to create a currency union with an independent Scotland. | The first minister of Wales has warned that he would try to veto any attempt to create a currency union with an independent Scotland. |
| Carwyn Jones said any such union would represent a "messy" solution that could create instability and have a detrimental effect on Wales. | Carwyn Jones said any such union would represent a "messy" solution that could create instability and have a detrimental effect on Wales. |
| Mr Jones said he would "want the right to have a say" on any future sterling zone if Scotland left the UK. | Mr Jones said he would "want the right to have a say" on any future sterling zone if Scotland left the UK. |
| The SNP has said a currency union would benefit both parties. | |
| Speaking at Edinburgh University, Mr Jones, who represents Labour, said: "I am not convinced that a shared currency would work from the Welsh perspective. | Speaking at Edinburgh University, Mr Jones, who represents Labour, said: "I am not convinced that a shared currency would work from the Welsh perspective. |
| "If one part of the currency union decides to leave, then that's a matter for them. | "If one part of the currency union decides to leave, then that's a matter for them. |
| "But if an independent nation wants to join, then that is a matter for the people of Wales, Northern Ireland and England - and as the first minister of Wales, I would want the right to have a say." | "But if an independent nation wants to join, then that is a matter for the people of Wales, Northern Ireland and England - and as the first minister of Wales, I would want the right to have a say." |
| The SNP has said that in the event of a "Yes" vote in next September's independence referendum, Scotland would retain sterling as part of a currency union with the rest of the UK, arguing that it would be in the best interests of both countries. | The SNP has said that in the event of a "Yes" vote in next September's independence referendum, Scotland would retain sterling as part of a currency union with the rest of the UK, arguing that it would be in the best interests of both countries. |
| However, Chancellor George Osborne has previously said the UK would be unlikely to support this approach. | However, Chancellor George Osborne has previously said the UK would be unlikely to support this approach. |
| Asked on BBC Radio Scotland's Good Morning Scotland programme why he would not be in favour of a strong fiscal alliance with an independent Scotland, Mr Jones said: "I just don't know how this works. | Asked on BBC Radio Scotland's Good Morning Scotland programme why he would not be in favour of a strong fiscal alliance with an independent Scotland, Mr Jones said: "I just don't know how this works. |
| "If you have a currency union, who decides on monetary policy? You've got two governments potentially with a view on that. | "If you have a currency union, who decides on monetary policy? You've got two governments potentially with a view on that. |
| "It's a very messy system from Wales's point of view. I'd be very, very worried about any currency system that involved the need to get agreement from different governments." | "It's a very messy system from Wales's point of view. I'd be very, very worried about any currency system that involved the need to get agreement from different governments." |
| Export 'strength' | Export 'strength' |
| He predicted that this would "increase problems", for example if there were to be a financial crisis. | He predicted that this would "increase problems", for example if there were to be a financial crisis. |
| But SNP MSP Linda Fabiani insisted a sterling area would be desirable for both Scotland and the UK following a "Yes" vote. | |
| She added: "The chairman of the No campaign, Alistair Darling, described a sterling area between an independent Scotland and the rest of the UK as 'logical' and 'desirable', which indeed it is. | She added: "The chairman of the No campaign, Alistair Darling, described a sterling area between an independent Scotland and the rest of the UK as 'logical' and 'desirable', which indeed it is. |
| "And Scotland's export strength, including North Sea oil - underlined by new export figures - would be to the huge benefit of the sterling area, including Wales. | "And Scotland's export strength, including North Sea oil - underlined by new export figures - would be to the huge benefit of the sterling area, including Wales. |
| "Just last month Carwyn Jones claimed that he couldn't provide any examples of devolution working for Wales, so this sudden turnaround just a few short weeks later is simply not credible." | "Just last month Carwyn Jones claimed that he couldn't provide any examples of devolution working for Wales, so this sudden turnaround just a few short weeks later is simply not credible." |
| Further devolution | Further devolution |
| In his speech, Mr Jones called for changes to the way the three devolved governments in the UK - Wales, Scotland and Northern Ireland - are funded. | In his speech, Mr Jones called for changes to the way the three devolved governments in the UK - Wales, Scotland and Northern Ireland - are funded. |
| He told Good Morning Scotland that Wales was currently underfunded by £300m. | He told Good Morning Scotland that Wales was currently underfunded by £300m. |
| Earlier this week, the Treasury responded to the Silk Commission on the devolution of financial powers to Wales by announcing that Welsh ministers would get tax-varying powers, the full devolution of business rates and early access to borrowing powers. | Earlier this week, the Treasury responded to the Silk Commission on the devolution of financial powers to Wales by announcing that Welsh ministers would get tax-varying powers, the full devolution of business rates and early access to borrowing powers. |
| Mr Jones told the audience in Edinburgh that the agreement showed that further devolution for Scotland could be possible if it chose to stay within the UK. | Mr Jones told the audience in Edinburgh that the agreement showed that further devolution for Scotland could be possible if it chose to stay within the UK. |
| He said: "To my mind to be a unionist in the 21st Century is to be a devolutionist." | He said: "To my mind to be a unionist in the 21st Century is to be a devolutionist." |