Roger Lewis It is a very good question but I wonder if the questioner and whether PM May know why it is such a good question. I suspect that PM May does.

In an economy with debt based money if Government debt does not increase at a time that private borrowing is on the wane the money supply shrinks which exacerbates economic contraction. The level of the Government debt is therefore related to the Money supply.

The level of debt is also related to the Bail-outs of 2008 which resulted from Banks lending wildly and going bust. This, in turn, led to the so-called sovereign debt crisis.The EU and the ECB has also struggled with this problem but the crisis has affected the so-called PIIGS massively as Constitutional Austerity force a sovereign debt crisis on the PIGS where the pigs were at the mercy of private banks or the ´´Markets´´in which to raise debt instead of resorting to the ECB as lender of last resort a role the ECB is prohibited from fulfilling under the EU treaties ( I have the ref but can not remember it off top of my head)

For the SNP a key question should they get a yes vote to secede from the Union the currency question is key, would Scotland have its own new central bank and national currency, would it try to join the EURO, (probably impossible to meet the requirements)
would it remain in a Stirling partnership?

Most MP´s are ignorant of the money creation process according to this Positive money survey.

http://positivemoney.org/…/7-10-mps-dont-know-creates…/

The performance of a currency is an interesting concept, what did the questioner mean? exchange rate comparisons, money supply and effectiveness as a means of exchange, Unit of account?
On the question of the National Debt, this is like austerity a political choice one small amendment to the bank charter act of 1846 would put that right, although the city of London would be very upset.Some say it is the City of London who lobbied hardest for Brexit, and that pass-porting is the main focus of the Tories on any EU deal post-Brexit. Time will tell.

http://positivemoney.org/how…/how-did-we-end-up-here/

https://notthegrubstreetjournal.com/2017/03/16/fed-rate-rise-12-trillion-fiscal-cliff-uk-commons-1-7-trillion-stirling-debt-money-myths-ignorant-mps/

Here are links to my Articles on Brexit and its monetary dimension.

https://notthegrubstreetjournal.com/?s=Brexit

https://notthegrubstreetjournal.com/?s=Brexit+timeline

The Dawkins video on Channel 4 sums up the lack of thought still being applied to these questions. This is about De Globalisation or Post Globalisation. Globalisation has failed and so has the neo liberal EU. I have been reading this this morning.

http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/…

see article 28 regarding the ESCB and ECB and its sole responsibility for stable prices. One EURO one Vote, that is not democracy. Similalry one Pound Stirling one vote is no more democracy than 10e Euro one vote. I do wish people could seperate out the seperate questions regarding how best to pursue democracy. Neiter the EU or Westmionster are democratic. Heres a whole book about the general malaise from the 1930´s By HG Wells just as a starter for ten.
http://gutenberg.net.au/ebooks13/1303501h.html
in fact two
http://gutenberg.net.au/ebooks13/1303621h.html

Their Lordships on Article 50.“Bring then above all ignorance, to which add confidence, audacity, and effrontery; as for diffidence, equity, moderation, and shame, you will please leave them at home; they are not merely needless, they are encumbrances.

.https://notthegrubstreetjournal.com/2017/02/21/their-lordships-on-article-50-bring-then-above-all-ignorance-to-which-add-confidence-audacity-and-effrontery-as-for-diffidence-equity-moderation-and-shame-you-will-please-leave-them-at-home/
Austerity, Enlargement and Monetary Union. The End of European Democracy. Not Waving But Drowning.
https://notthegrubstreetjournal.com/2017/02/24/austerity-enlargement-and-monetary-union-the-end-of-european-democracy-not-waving-but-drowning/

I support Scottish Independence but I also support monetary independence for all the Nations in the European Union, a Complementary Federalised complementary domestic currency system and one currency for international trade outside of the EFTA area makes most sense, Bernard Lietaer is the most approachable source on these concepts he features in this dialogue I have has with Clive Lord a founding member of the Peoples Party ( proto-Green Party of England and Wales.

https://notthegrubstreetjournal.com/?s=Austerity

POLL RESULTS: Only 1 out of 10 MPs understand that banks create money

POSITIVEMONEY.ORG