Pound Stirling?

[ludwig]

Is it reasonable for the SNP to expect that an independent Scotland could keep the pound?

[sandyRoe]

There are some independent countries in the Carribbean that use the American dollar as their currency. I don't see why Scotland couldn't use the pound.

[jim360]

It's not so much a question of keeping the pound, which the Scottish could decide to do unilaterally. It's just that they would be excluded from making any decisions about it. If the rest of the UK chose to, say, devalue, or to set a new interest rate, or anything else attached to that, then Scotland would be unable to do anything about it and would have no say. It would tether their economy to a weight that can be added to freely, independent of their wishes, which is not really a good thing.

[bookbinder]

Several countries use a currency that they call 'pound' (not necessarily pound sterling), so an independent Scotland could use 'pound' for its currency. They could call it the Scottish National Pound.

[Prudie]

Do you mean all of Scotland or just Stirling ?:-) Do you not think it smacks a bit of having your cake and eating it?

[AB Editor]

No. It is not reasonable because it is not independence if they keep it.

"There are some independent countries in the Carribbean that use the American dollar as their currency."

Isn't the US$ a reserve currency all around the world? Part of the deal being that others can use it freely?

[Baldric]

If the Scots wish to be independent, let 'em go, completely, no hanging on to the bits that suit them, that's not independence imo.

[ludwig]

// Do you not think it smacks a bit of having your cake and eating it? //

Personally I do, yes.

[Sipowicz]

Pound Stirling Albion?

[vulcan42]

There has been an Egyptian pound since 1834, can't see why there shouldn't be a Scottish pound if that's want they want.

[vulcan42]

"If that's what they want"

[ludwig]

Forgot to post this link in the OP

http://www.bbc.co.uk/news/uk-scotland-scotland-politics-26166794

The issue's not really about what they call their currency. It's about whether an independent country can expect to retain fiscal union, almost as a right.

[Heaton21]

Agree with Baldric. If they want independence that badly then go the whole hog and sort out their own money. On the face of it it looks as they havn't really thought this through and considered the response from Westminster. 100 neeps equals one braveheart.

[anotheoldgit]

If they choose to 'be on their own' then let them, no special favours no nothing.

[Old_Geezer]

The Scots, should they opt for a split, may call their independent currency more or less what they wish. That is different to using the currency of another country as if it were your own. I guess no one can be bothered to stop another country buying enough of their currency to prevent it being used as their national one. But as others have mentioned, it compromises independence since a country without a currency of it's own is tied to that whose currency they use, without any say.

[mrs_overall]

I think they should have their won currency and the "pound stirling" is an excellent name (emphasis should be placed on the letter 'r' so it is pronounced stirrrrrrling)

[mrs_overall]

*own* currency

[Gromit]

No.

A union or tethering two or more countries to a single currency is something that is done by agreement between all parties. While the Conservatives are in Government, it is fair to assume they will oppose it.

Opposing it is probably the wrong decision though. If, in the unlikely event that Independence actually happens, hopefully an economic judgement will prevail over Party dogma.

Has the inclusion of Scotland damaged Sterling these past few hundred years? Has the inclusion of the Isle of Man and the Channel Islands damaged Sterling?
So why would Scotland using Sterling be a problem. Losing Scotland would damage the power of Sterling, probably hastening our conversion the the dreaded €uro.

[youngmafbog]

I've always been surprised Salmond was so keen on keeping it. It totally undermines the fundamental requirement of independance.

Does he think Scotland would have a say in how the currency is valued/used/exchanged etc? Plus a currency needs to be backed by reserves so how is he expecting this to work?

I'm afraid keeping the currency is wrong on so many fronts for both Independent Scots and for the (United kingdom-Scotland).

[naomi24]

No. If the Scots choose independence, they should be prepared to be totally independent.

[youngmafbog]

I disagree Gromit. Sterling will not be damaged and if anything could grow once the world sees the squabbling stopped and Scotland off on its own path.

And by the same token, squabbling, is why they should not be part of it. Can you imagine the continual whining every time they didn't get their own (minority) way?

The Isle of man cannot be compared to Scotland. They have a completely different view in life and a very different size.