WorldScottish president plans to introduce new currency in case...

Scottish president plans to introduce new currency in case of independence

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British coins. Archive photo

Scottish leader Sturgeon wants to introduce a new currency in case of independence from the UK

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MOSCOW, October 17 – RIA Novosti. Scottish First Minister Nicola Sturgeon has announced her intention to introduce the Scottish pound in the country in case of independence from the UK.

“We approve (implies) the Scottish Government’s policy to introduce the Scottish pound. We will do that as soon as possible,” he said at a press conference at his official residence in Edinburgh.

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The broadcast was hosted by Sky News.

He noted that the exact dates would be determined not by a fixed schedule, but by the fulfillment of a set of objective requirements and criteria. According to Sturgeon, the pound will initially be used alongside the Scottish pound for a smooth transition to the new currency. The Bank of Scotland and some other financial institutions will be established to control monetary policy and maintain financial stability.

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Independence also “opens the door” for Scotland to rejoin the European Union and the single market and allows for increased and diversified trade. But he said Brexit and Scotland’s possible accession to the EU means that a border will be created between the two countries to control trade.

At the same time, the First Minister stated that Scotland would remain in a single immigration area with the rest of the United Kingdom and rejected the idea of ‚Äč‚Äčintroducing passports “to visit relatives in England”.

Sturgeon has repeatedly declared his intention to hold another independence referendum in 2023, but former Prime Minister Boris Johnson and current Prime Minister Liz Truss have said they will not allow a second referendum because the people of Scotland had already expressed their will in 2014. Then, 55% voted against secession and 45% in favor. The Scottish referendum will require the approval of central authorities.

Source: Ria

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Harold
Harold
I'm Harold O'Connor and I work as an author and editor for News Unrolled, a news website dedicated to delivering the latest world events. With my in-depth research skills, passion for news writing, and keen eye for detail, I strive to provide readers with accurate information on current affairs from around the globe.

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