Scotland: Speech spells out currency union 'risks' - Darling

Former Labour chancellor Alistair Darling, who is leading a campaign for Scotland to remain in the UK, has said the Bank of England governor's intervention highlights the risks of a possible currency union.

In a speech in Edinburgh on Wednesday, Mark Carney stressed that arrangements for a currency union in the event of independence would be a matter for the Scottish and UK parliaments.

Mr Carney warned that the example of the eurozone highlighted the "clear risks" of a currency union if the "necessary foundations" were not in place.

Mr Darling said: "For a currency union to work, it can only work if you have increased economic and political union - the very thing that nationalism is dead against."