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.