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FX.co ★ Independent Scotland will need its own currency

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Forex Humor:::2014-02-21T11:53:00

Independent Scotland will need its own currency

Besides the freedom to take decisions, responsibility and, as it was found out, restrictions come with independence. The UK government will ban the pound sterling circulation across Scotland in case of a vote for independence from Great Britain. UK Chancellor George Osborne said: "If Scotland walks away from the UK, it walks away from the UK pound". Speaking in Edinburgh, Mr Osborne also said: "The pound isn't an asset to be divided up between two countries after a break-up like a CD collection”. The Scottish authorities have been planning to maintain the British pound as the national currency. This suggestion was included in the White Paper, a document containing the major principles of the Scottish Independence. Moreover, the UK's Queen has been offered to become the head of the new state. Now, ahead of the Scottish independence referendum, Scotland's rivals have an advantage in the pocket as an independent country cannot function without its own currency. England and Scotland signed the Acts of Union in 1707, but there have always been political powers claiming sovereignty, although Scotland is the most autonomous part of the United Kingdom with its own parliament, legislative system, and church.

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