What currency can Scotland have when independent?

Answer:
Timetable for introduction of Scottish Pound post independence. What will happen to wages and bank account, and pension.

Full answer here: A Scottish Currency in an Independent Scotland



Answer:
A central bank needs to be established. Personal and business accounts need to be set up. Loans can continue to be paid in Sterling or the new currency. Pensions can also be paid in the same way.

Full answer here: How to start Scotland's own currency



Answer:
An independent Scotland needs its own currency. First requirement is a Central Bank. Then there the details of bank accounts, customer accounts (business and personal), repayment of loans, payment of pensions, and the printing and coining of money. All these are technical details which financial institutions are well versed in.

Full answer here: Independent currency requirements



Answer:
According to Modern Monetary Theory an independent currency is necessary to have a properly independent country.  It is possible to establish a currency for Scotland and there are enough resources to provide sufficient monetary resources to support it. 

Full answer here: Currencies Scotland could use after Independence



The self-financing state: An institutional analysis

Author / Creator: Josh Ryan-Collins

Media type: Working Paper

Date published: 2022

"The UK Government creates new money and purchasing power when it undertakes expenditure, rather than spending being financed by taxation from, or debt issuance to, the private sector."


What Scotland can learn from Irish independence: it won’t control interest rates and inequality will widen

Author / Creator: Eoin McLaughlin

Media type: Article

Date published: 2022

Managing the transition [to independence] won’t be straightforward. Ireland’s experience shows that the need for fiscal discipline may be politically costly and adjustment may not be shared equally.


Would an independent Scotland have to use the Euro?

Author / Creator: Believe in Scotland

Date published:

‘No. Scotland would not have to use the Euro.’ 


New Money; Central Bank Digital Currencies

Author / Creator: Peter Ryan

Media type: Podcast

Date published: 2021

Central Bank Digital currencies in an Independent Scotland. Craig speaks to Peter Ryan – expert on currency and banking systems and author of several papers for Common Weal and the Scottish Independence Convention - on currency in an independent Scotland. 


Busting the old Unionist anti-indy myths. Open minds on Scottish independence #19

Author / Creator: Believe in Scotland

Media type: News Media

Date published:

This article looks at three myths about Scottish independence:

Myth 4: Business leaders are worried about the effects of independence.

Myth 5: A new Scottish currency would be difficult to establish

Myth 6: independence would threaten pensions


The SNP must rethink its economic model for an independent Scotland

Author / Creator: Laurie Macfarlane

Media type: Assessment report

Date published:

A critique of the Growth Commission's report. "Far from being an asset to the independence cause, the Growth Commission is its biggest liability. It’s time, as we say, ‘tae think again’."


Transition to a Scottish Currency

Author / Creator: Peter Ryan

Media type: Policy Paper

Date published: 2020

The decision on Scottish independence is a decision for the people of Scotland.  When making that decision it should be clear which currency an independent Scotland would use. If the people of Scotland vote for an independent Scotland with its own currency, that democratic mandate should be respected.


Scottish Currency Group

Author / Creator: Tim Rideout

Media type: Facebook group

Date published:

People working towards the introduction of a Scottish Currency 'as soon as practicable' after Independence Day.   A Facebook group.


Scottish Reserve Bank

Author / Creator: Tim Rideout

Media type: Blog

Date published:

The Scottish Reserve Bank website attempts to clear up many of the deliberate myths surrounding the establishment of a new Scottish currency 


How to make a Currency: A Practical Guide

Author / Creator: Peter Ryan

Media type: Policy Paper

Date published: 2016?

This is the most detailed and authoritative paper yet produced on how to introduce a Scottish currency in the event of independence.


Backing Scotland’s Currency – Foreign Exchange Reserves for an Independent Scotland

Author / Creator: Peter Ryan

Media type: Policy Paper

Date published:

Examining how an independent Scotland could back and defend a Scottish currency. Rereign reserves can be backed by debt and asset negotition, Sterling currency in circulation in Scotland, foreign exchange swaps with the Bank of England, and issuing Euro bonds.


A Silver Chain – A Critique of the Sustainable Growth Commission’s Monetary Policy Recommendations

Author / Creator: Craig Dalzell

Media type: Review

Date published: June 2018

In May 2018 the Sustainable Growth Commission made its final report, presented as a series of recommendations on the economic, fiscal and monetary case for Scottish independence. This document does not cover the full gamut of policies which would be directly affected by independence nor does it cover the full range of institution building required by a nascent independent state. The report discusses the creation of a “Central Bank”, but creation of other institutions such as energy regulators, customs and borders agencies and foreign and diplomatic services lay outwith its remit.


Scotland’s Fiscal Future

Author / Creator: Craig Dalzell

Media type: Policy Paper

Date published:

The quest for GDP and GDP Growth is not sustainable in a finite world.  Metrics such as environmental impact, inequality and wellbeing are far more important and only by elevating them above the quest for “growth at all costs” can a truly fair and sustainable Scotland be created.


An Investment-Led Economic Development Framework For An Independent Scotland

Author / Creator: Common Weal

Media type: Policy Paper

Date published:

Scotland, if independent, could improve its performance across 12 key pillars of its economy. There are a number of economic theories beyond the current one used by the UK. An investment-led economy would include laying down the foundations of a Green New Deal.


Scottish Currency Options Post-Brexit

Author / Creator: Craig Dalzell

Media type: Policy Paper

Date published: July 2016

Setting up a new currency, if an independent Scotland chooses to do so, will involve planning but the steps involved are well understood. Currency options include a formal currency union with either Sterling or the Eurozone; Unilateral use of either currency; or a new Scottish currency. The recommendation is for an independent £Scot


ScotPound: Digital Money for the Common Good

Author / Creator: New Ecconomics Foundation

Media type: Policy Paper

Date published:

The introduction of a digital currency with a new payment system would provide the world’s first publicly owned, not-for-profit national payment system.  It would enable Scottish businesses to accept payments without being charged fees by banks and credit card firms. It would be available to all with mobile phones. It would demonstrate that a new national currency can be created and implemented