ALEX Salmond was urged to clarify his position on the SNP's plan for an independent Scotland joining a monetary union with the UK after he was accused of a U-turn – ruling out the need for a fiscal stabilisation pact months after saying there should be one.
Scottish Liberal Democrat leader Willie Rennie said: "To use the pound and have the Bank of England as a lender of last resort would require an independent Scotland to live by the UK's rules."
A fiscal stabilisation pact would see the government of an independent Scotland agreeing limits for taxes, spending and borrowing as the price for joining a monetary union with the UK.
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