‘Plan B’: What are an independent Scotland’s currency options?

Though the three main Westminster parties have each publicly rejected a formal currency union with an independent Scotland, Alex Salmond and the ‘Yes’ campaign have yet to articulate what a ‘plan B’ would entail. In this article, David McCarthy and Angus Armstrong lay out the options in detail, writing that the limited ability of an independent Scotland to provide ‘lender of last resort’ support to its banking system means that both regulatory and market action will lead the two remaining significant Scottish banks to redomicile.