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Independent Scotland 'meets criteria' for currency union

29 January 2014 Last updated at 11:38 GMT

Ahead of the Bank of England governor Mark Carney's speech in Edinburgh over the currency implications of an independent Scotland, the Today programme has heard both sides of the debate.

Business for Scotland chief executive Gordon MacIntyre-Kemp said that Scotland would "meet all the criteria" to share the pound were it to become independent.

Scotland's shadow finance minister Iain Gray, however, stated that a monetary union between an independent Scotland and the rest of the UK would be ineffective without a "political union".

First broadcast on BBC Radio 4's Today programme on Wednesday 29 January 2014.

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