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Independent Scotland's Money

The blueprint for Scottish independence was released a few days ago - you can read a summary here. For most people, whether or not independence is a good thing largely revolves around the economic costs and benefits of dissolving the union. What currency should an independent Scotland use? In the blueprint, Alex Salmond states that "the pound is Scotland's currency just as much as it is the rest of the UK's". See the super video below produced by the National Institute of Economic and Social Research which explains what money is, the alternatives facing an independent Scotland, and why Salmond's proposal may not be workable (hat tip: Chris Colvin).

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