if Scotland becomes independent and we apply to the EU would the currency then have to become the Euro?
To be honest I’m not savvy on how that kind of side of things would really work. We wouldn’t have to but everything boils down to whether if we do go independent and are allowed the keep the pound or not. Right now it’s all if’s and but’s. The best place to ask these kind of things would be here.
No and here’s why.
Thanks for the link. Reblogging just in case anyone wants to take a look.
That article is fraught with nonsense! Hardly a neutral source either :/
Nobody could say that Scotland would *have* to join the Euro but no other country has been able to opt out (bar the UK!) and every single member state would have to agree to Scotland being allowed to ‘opt out’. If Scotland’s negotiations for re-entering Europe include not having the Euro as a kind of ‘red line’ then those negotiations would take longer and we’d have less leverage to say no to Shengen or get the tax rebate.
The article is also out of date: the comment about Scotland defaulting on its debt as a result of Westminster rejecting a Stirling Zone (which has now happened) is childish and unrealistic. In order for Scotland to leave the rUK at all it will need to take on a fair proportion of the debt - refusing to pay that debt wouldn’t mean it didn’t exist, just that Scotland would be defaulting in the money it owed to the rUK, even though it’ll up to the rUK (and all the other member states) to fight for Scotland to get a good deal in the EU - not such a good idea! Also, defaulting on debt is hardly a good way for a new nation to start building up a good credit score.
If Scotland were to become independent and rejoin the EU, one of the conditions of that membership would very likely be a real and legal commitment to signing up to the Euro (admittedly not right away).