The Quick Guide To A New Scottish Currency

1. When will the Scottish pound come into us?

2. How long does it take to create the Scottish Reserve Bank and be ready to release the new currency?

3. Why is it called the Scottish Pound?

4. Will I be forced to convert my money?

5. Do I need to do anything?

6. Will my new S£ account and cards be the same as my existing ones?

7. Can I keep my Sterling account(s) and have new S£ accounts?

8. Isn’t this even more complicated than Decimalisation in 1971 or bringing in the Euro?

9. Can I just carry on using Sterling for all my purchases?

10. Isn’t this all very difficult for businesses that buy or sell in rUK?

11. What about my mortgage, credit card and personal loan?

12. If I re-mortgage how does this work?

13. What is the big picture on our debts?

14. What about my ISA?

15. What about my wages?

16. What about my pension?

17. Don’t we need to save up Foreign Exchange reserves before we can introduce the S£?

18. What happens to the Banks?

19. I have been told the banks will have unmatched assets and liabilities and that this will cause a big problem?

20. It has been claimed that the commercial banks will face huge foreign exchange risks?


Currency Questions

"Unionists insisting Scotland would not be allowed another independence referendum have recently appeared to change their tune, now wanting to decide the franchise for indyre2 and bombarding social media with the old chestnut questions of 2014. ‘What currency will you use” is at present one of the favourites."

The SNP Has To Commit To A Scottish Pound

"The SNP hierarchy want Scotland to pursue ‘sterlingisation’ post independence. That would mean Scotland would use the existing pound. And this would be an outright disaster. Scotland could not, in that case, borrow in its own currency. It could not set its own interest rates. It could not do quantitative easing. It could not have done furlough then. And its debt would be subject wholly to the whim of foreign financial markets, and you can be sure that those in London would do their best to undermine it."