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.


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