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
Scotland’s Currency Dilemma
Author / Creator: William Thomson
Media type: Article
Date published: 2024
“the economic framework underpinning Scottish independence is dangerously misguided and likely to lead to a worse economic situation than we experience as part of this dysfunctional Union.”
How easily could an independent Scotland set up its own currency?
Author / Creator: Believe in Scotland
Media type: Article
Date published: 2023
New currencies can be created and launched both quickly and effectively.
How easily could an independent Scotland set up its own currency?
Author / Creator: Believe in Scotland
Media type: Article
Date published: 2022
"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"
What would the currency options be for an independent Scotland?
Author / Creator: Ronald Macdonald
Media type: Article
Date published: 2022
Scotland can
- use Sterling
- join a monetary union
- establish its own currency
A monetary straitjacket: Scottish Government economic plan for independence
Author / Creator: Ben Cooper
Media type: Article
Date published: 2022
"The best that can be said for the Scottish Government’s new economic paper for Scottish independence, Building a New Scotland: A stronger economy…, is that it does not include some of the more hideous ideas contained within
The SNP’s Currency Proposals
Author / Creator: Iain Hardie
Media type: Review
Date published: 2022
"On the surface, the government’s proposals on currency appear little changed from the Scottish Growth Commission (SGC)... However, this masks significant changes in the new proposals."
Twenty-First Century Central Banking and an Independent Scotland’s Currency Choice
Author / Creator: Iain Hardie
Media type: Report
Date published: 2022
"Having the full range of monetary policy options is essential for financial stability. [It enables] an independent Scotland’s government to protect its citizens in crises, whether global or more local.”
Does Scotland need its own currency after independence?
Author / Creator: Richard Murphy
Media type: Video
Date published: 2020
Scotland requires its own currency.
The Road to the Scottish Currency
Author / Creator: Scottish Currency Group
Media type: Book
Date published: 2022
Q & A on the Scottish Currency
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.