Would we be at risk of falling victim to the 'resource curse'? (Image: Jane Barlow/PA)
WHILE coverage of the pending Grangemouth closure has been in some depth, I have not read any mention of its possible effects on a proposed Scottish currency in the case of independence.
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Would Scotland not be at risk of falling victim to the so-called “resource curse”, with its currency being artificially inflated by the export of valuable oil, so making its other exports comparably more expensive abroad, and so less competitive?
If so, do the editors think that this might be a reason why the UK Government has not intervened effectively to avert the closure of Grangemouth?
Michael Gall
Edinburgh
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