If Scotland Votes For Independence In The 2014 Referendum How Will?

If Scotland Votes For Independence In The 2014 Referendum How Will?

Adam makes a really interesting point in his penultimate paragraph about the impossibility of a special arrangement between the rUK and Scotland, outside of the EU. However, I did want to pick up on something that he says with which I disagree. He has disabled comments so I have put it into an answer. Scotland does not have its own currency already. It uses the UK pound, the central bank of which is the Bank of England. Notes issued by Scottish banks are not a fiat currency in their own right, it is controlled by the Treasury . I am far from certain that the Czechoslovakia velvet divorce is a template that this would follow.