Scottish Independence - Money Worries

Sun, 28 Apr 2013 11:01:00 -0500

So, the debate has been hotting up this week, with much discussion over what currency would be used by Scotland if we gained independence. Basically, there are three options:

1) Use the Euro. Not really a popular one, and no longer favoured even by the SNP.

2) Set up our own currency. I am not sure what such a currency would be, but apart from the inadvisability of using anything that could be called the "Pound Scots" (which was the old Scottish currency before the Act of Union in 1707 and was worth about a tenth of the equivalent English pound), it would be extremely risky to set up a new currency without the backing of a major national bank such as the Bank of England.

The Morningstarr*

Scottish Independence - Money Worries