How easily could an independent Scotland set up its own currency?

Primary Author or Creator:
Believe in Scotland
Believe in Scotland
Alternative Published Date
Type of Resource:
Fast Facts

"several mini case studies ... highlight the positives of adopting a new currency and will provide examples of recently independent countries that have created and launched their own currency both quickly and effectively"

More details

"The issues surrounding the creation of a new Scottish currency should not act as an obstacle for independence. The timing of implementing a new currency would be when it worked best for Scotland and that would be dependent on the prevailing political and economic circumstances and the trade agreement with the rest of the UK post-independence. Indeed, if launching a new currency in Scotland were to unfold similarly to other countries that have also created their own currency, an independent Scotland will be likely to experience stability, and greater financial benefits, allowing for fully monetary policy control and flexibility that we do not enjoy as part of the UK."