As Foreign Affairs spokesman for UKIP I am increasingly alarmed by the politically naive and obsessed SNP who plan to turn Scotland into a foreign country. The SNP sees no irony in campaigning for Scotland to become ‘independent’ while at the same time joining the EU. This combination would place Scotland firmly under Brussels’ rule. I shudder to think of Scotland becoming a foreign vassal state.

The SNP fails to understand that, since the Maastricht Treaty of 1992, all new EU members are legally obliged to adopt the euro. Any EU accession treaty would make this requirement binding. Now that the UK has successfully won the fight to leave the EU, our former opt-out will not apply to Scotland. The SNP might not be compelled to join the Euro on day one after joining, but they would have to do so eventually. Moreover, the EU’s rules might change to force them to do so sooner. Under qualified majority voting, neither Scotland’s voters nor their so-called ‘independent’ government would have any choice.

There is no point in Scotland becoming ‘independent’ if joining the EU means it has to accept unquestioningly every directive issued by unelected Brussels bureaucrats, and be obliged to give up its traditional pounds, steeped in Scottish history, to join the Eurozone, and to switch to Euros. The pound was Scotland’s traditional currency, introduced as long ago as the 12th century prior to the 1707 Treaty of Union between the Kingdom of Scotland and the Kingdom of England, which created the Kingdom of Great Britain. The Sterling pound replaced the Scottish pound in 1707, but the pound is part of Scotland’s heritage. The Scottish people have historically always used pounds. So, why would Sturgeon now abandon Scotland’s customs and traditions and abolish Scotland’s traditional currency in favour of a foreign currency? That would hardly liberate Scotland, would it?

Why would anyone with even half a brain even consider joining the Eurozone? The Euro is a construct made of straw and with foundations in a quicksand. The SNP would do well never to join this dodgy currency. Out of the frying pan and into the fire springs to mind. Better stick to Sterling pounds and the Barnett Formula they already know and love.

Life in the Eurozone is not all sweetness and light. The Euro has always been a basket case and the frailty of the Eurozone is once again becoming a serious issue. In 2008, the Eurozone suffered a sovereign debt and financial crisis when Greece went broke. The “PIGS” countries Portugal, Italy, Greece, Spain (and Ireland) all experienced debt problems and imposed austerity packages. In 2022, it is all happening again. Due to years of mismanagement, the Eurozone is again under financial pressure and is now at risk of running out of gas. The Italian economy is in distress (as usual) and needs yet another rescue. The Germans are in intense trouble and no longer have deep pockets. Inflation is rearing its ugly head. Interest rates are under pressure. If borrowing costs increase too far,

and the European Central Bank (ECB) stops pumping money in to prop up risky EU economies, then things will start to kick off.

Italy is a huge economy. If it fails, the impact will be painful. Italian politics are in turmoil. Prime Minister, Draghi resigned in July 2022. He will remain as caretaker pending a general election, which a right-wing populist coalition is widely expected to win. Although it has so far not actively campaigned to leave the Eurozone, the coalition is Eurosceptic, and the situation may well change. Bringing back the lire may not be out of the question after all!

The Eurozone does not suit weaker economies like Scotland’s (which is heavily dependent on UK support). Nobody underwrites the debt of individual EU nations if they get into difficulty. There is no shared debt or fiscal policy. Historically, the ECB and other Eurozone nations might help, but they might not. Ultimately, in the past, in failed nations like Greece, the burden has fallen mainly on their own people. Some nations have had to endure a deep depression under the constraint of the single currency because they could not devalue their own national currencies. These nations have no genuine independence. Because they use the Euro, they must maintain parity within the entire Eurozone. In truth, the Euro is a veritable millstone around their necks.

The UK Independence Party has always known that the Eurozone can never work as a single currency. It is ill conceived. A workable monetary union necessitates a full political union. This does not exist, and in my opinion, it never will. No self-respecting European nation wants one and not one will ever relinquish its sovereignty and unite into a single super state with a single government and a single central bank. The Eurozone will only survive until a significant European nation finally gives up on it and jumps ship to revert to its own national currency.

The UK Independence Party believes Scotland must keep the pound and must never leave the Union. Since inception, the UK Independence Party has adamantly refused to abandon the pound sterling. We were unwavering that the UK must never join the Euro. That is why we retain the £ symbol in our logo even until this day to show our continued commitment to our traditional national currency.

The UK Independence Party is ideologically opposed to devolution. We believe in one law for all, and that our Westminster parliament should make all our laws, rather than so-called provincial ‘parliaments’ in Scotland and Wales. Similarly, as a party, the UK Independence Party stands firmly against anyone, (especially Ms. Sturgeon), who might actively plot to break-up the United Kingdom.

The UK Independence Party has always been on the right side of the debate.

Steve Grimes

UK Independence Party – Spokesman for Business, Trade and Foreign Affairs