Scotland could secure a smooth transition to EU membership because it is already signed up to the key tenets of EU – the so-called `acquis’ – by virtue of its membership of the UK. Scotland would also need to deal with the question of joining the euro, which is now obligatory for any new member. The SNP points to the example of Sweden which has been in the EU for 19 years but never signed up to the euro because the process is essentially voluntary. But currency could still be a stumbling block if Scotland decides to use the pound without a formal agreement from the UK. The so-called “sterlingisation” approach is not compatible with EU membership, former EC economy commissioner Ollie Rehn warned in a letter to Treasury Secretary Danny Alexander recently. One area where Scotland looks certain to lose out is on the UK’s annual £3 billion budget rebate, while it’s EU structural funds are also likely to be cut. The Coalition Government warned in a report this year, this would leave the newly-independent state up to £3.8bn worse off between 2014 and 2020. John Kerr, chairman of the Centre for European Reform and Britain’s former envoy to Brussels, warned that it was impossible to predict how any of these votes and negotiations would go.
Posted on: Tue, 16 Sep 2014 07:48:15 +0000
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