Quote:
Originally Posted by FlamesAddiction
I am not quite sure that I understand the currency issue. There was some talk a while back about Iceland adopting the Canadian dollar, as well; there are other independent countries that use the currency of other nations.
American dollars and Euro are already used at least unofficially on the street in many non-member countries.
Is there really anything stopping Scotland from using the pound until they establish something of their own?
Also, Bosnia set up a currency (albeit, pegged to the German Mark) immediately after their independence was settled, and I imagine they had less resources and more turmoil to deal with than Scotland will.
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No, a country can use basically whatever it wants for currency. The issue is two-fold for the longer term though. First as has been mentioned it could make EU membership impossible without their own central bank. Second (and IMO far more important) is that this lack of having your own currency means you cannot set monetary policy. I suppose a lot of countries don't seem to care about that (have a look at the Euro!), but it can be a big deal.