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Take down the Union Jack? Scotland to vote on independence
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If Scotland were to pull away from the United Kingdom, what would its society look like? What would its economy look like? The Scottish National Party today issued a kind of mission statement to start answering those questions. In 10 months, voters in Scotland will be asked, yes or no: “Should Scotland be an independent country?”
Some of the big challenges they would undoubtedly face would be economic, and one of the big issues they’d have to decide is which currency to use. The Scottish National Party is proposing a currency union with the rest of the United Kingdom. And — as we know from the euro zone — running a currency union with more than one government involved can sometimes be pretty challenging.
For more on the Scottish economy and the challenges an independent Scotland would face, click the audio player above.