Greek lessons for Scotland

If Scottish nationalists really want independence, they'd better ditch the pound, says John Stepek.

Who controlsGreek economic policy? It's hard to give a full answer to that question in this short space. Any half-decent attempt would have to mention Mario Draghi (president of the European Central Bank), the International Monetary Fund, and maybe throw in a nod to German chancellor Angela Merkel.

But I can tell you one thing for sure it's not the Greeks. If the Greeks want to keep the euro as their currency and despite everything, they keep voting as if they do then they have to do what the rest of Europe tells them.

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John Stepek
Former editor, MoneyWeek