What Currency would an independent Scotland use
Could be interesting. It has already been discussed here why they cannot go straight into the Eurozone so they would have to stay with the Scottish Pound. It was in existence before the Union so it is traditional. The problem comes as to who issues it.
At the moment there are three Scottish banks that issue notes, effectively promissary notes, that are not legal tender anywhere, not even in Scotland. The three are the Royal Bank of Scotland, 84% owned by the British government. The Bank of Scotland; merged with the Halifax Bank and then taken over by LLoyds Banking Group, both English; and the Clydesdale Bank, owned by the National Australia Bank, obviously Australian. The Scottish offices that issue these banknotes have to base it on something and all Scottish notes have printed on them:
promise to pay the bearer on demand (Five/Ten etc) Pounds Sterling at their office.
So Scottish notes are tied to the GB Pound. How do you use a currency that belongs to another country using banks that are owned by other countries. To issue its own would mean that the Scottish pound, whatever it is called, will have to float on the market. Should it fluctuate against its nearest and only neighbour that can bring all sorts of problems from attracting investment to doing the weekly shopping.
Interesting times if it happens.