FX.co ★ Scotland announces second referendum

After the Brexit referendum, Scots also decided to evaluate whether there is any sense in various kinds of unions. If the UK thinks that independence is good, then Scotland is free to choose solitude.

The First Minister of Scotland, Nicola Sturgeon, appealed to the British government for a second referendum on independence from the UK. According to the politician, the vote has to be held between autumn 2018 and spring 2019. At the same time, former First Minister Alex Salmond said that in case of independence Scotland may lose its common currency. Interestingly, Salmond had to retire right after the failure of the first referendum on Scottish independence in 2014 when the majority of Scots voted to stay in the United Kingdom. Salmond said he was open to changing his view that the best option after independence was a currency union between Scotland and the remainder of the UK.

Currently, the former First Minister thinks that Scotland could abandon the pound. However, he ruled out joining the euro, but suggested that Scotland could introduce a new currency, either freely floated or pegged to the pound. From his viewpoint, the pound sterling could be used until a new currency is launched.