Navigation

Salmond: Scotland could drop pound

Reuters LONDON (Reuters) — Scotland could abandon a currency union with the rest of the United Kingdom if it gained independence, former Scottish First Minister Alex Salmond told the Financial Times.

Nationalist Scottish First Minister Nicola Sturgeon demanded a new independence referendum in late 2018 or early 2019, but British Prime Minister Theresa May said on Thursday that “now is not the time” for such a vote.

Salmond, who resigned as Scottish leader after losing a 2014 independence referendum, said he was open to changing his view that the best option after independence was a currency union between Scotland and the remainder of Britain, the FT said on Friday.

He ruled out joining the euro, but suggested that Scotland could introduce a new currency, either freely floated or pegged to the pound. Another option, he said, was to use sterling without any say in monetary policy while the new currency was introduced.

Speech

Click to play

0:00/-:--

+ -

Generating speech. Please wait...

Become a Premium Member to use this service.

Become a Premium Member to use this service.

Offline error: please try again.