The Current Account: Obama, the Tories and Warship Producer Debate Scottish IndependenceIBTimes UK

This week has all been about Scottish independence, as politicians and businesses warned of detrimental repercussions from splitting the union, following the official start of the referendum process.

Taking a breaking from scathing attacks, the Tories and former Prime Minister Gordon Brown promised to grant the devolved Scottish government more powers over taxation, if scots vote 'No' in September.

Meanwhile, the US President Barack Obama made a surprising set of comments over the issue.

Speaking in a joint press conference with UK Prime Minister David Cameron, Obama highlighted how Scotland should stay in the 307-year union as the UK has worked successfully as a "united and effective partner."

Scottish people will vote in an independence referendum on 18 September this year and will be asked the straight "yes/no" question: "Should Scotland be an independent country?"

The referendum period started on 30 May.