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Old 21-03-2017, 01:25   #2794
Kursk
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Re: Will Scotland Leave the UK?

Quote:
Originally Posted by Chris View Post
There is nothing to stop a third party country from using a currency that is not its own, either by directly circulating foreign banknotes, or else holding a supply of foreign notes equivalent to the value of domestic promissory notes it circulates within its own territory. For small, stagnant economies this can work fine. They lose some flexibility and dynamism but they save a lot of time and money because they don't have to worry about managing a currency for themselves.
I bow to your greater knowledge of economics Chris: would it be possible/practical/viable for Scotland to blindside us all by adopting the American dollar as its currency post independence?

We know President Trump has close associations with Scotland, could Scotland become, to all intents and purposes, the 52nd state providing a bridge between the US and European markets when Scotland resumes its EU membership?

The ramifications are scary.
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