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Overview —

The decision of the UK to leave the EU has changed the baseline assumptions about many aspects of politics.

This paper re-opens and re-examines the case for each of Scotland's plausible currency options in the event of independence and weighs the pros and cons of each.

The paper concludes that only the option of Scotland launching a new currency gives sufficient control over macroeconomic and fiscal power and thus should be the policy for any future independence campaign.

Credits —

Dr Craig Dalzell

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The decision of the UK to leave the EU has changed the baseline assumptions about many aspects of politics.

This paper re-opens and re-examines the case for each of Scotland's plausible currency options in the event of independence and weighs the pros and cons of each.

The paper concludes that only the option of Scotland launching a new currency gives sufficient control over macroeconomic and fiscal power and thus should be the policy for any future independence campaign.