The Biggar Picture - The Currency, Monetary and Fiscal Policies.
Following the financial crisis that led to taxpayers money bailing out the big private banks the government failed to address the problems that caused the banks to fail. The same conditions still exist and will/can lead to another financial crisis.
A major contributing factor confusing many Scots during the recent Referendum was the lack of clarity by the SNP on the subject of the Currency Union. However, there is an answer available should our political leaders have the political will to face up to reality. See the following Utube video.
Alternative Financial Plan for Sovereign Scotland.
Scotland, as a sovereign state, will have a unique opportunity to start with a clean sheet to deliver an improved framework for monetary policy, financial stability and fiscal sustainability, essential to deliver robust economic growth and to create jobs. The key to preventing a future financial crisis is for the Government to take control of the banking system and operate the system in accordance with Authority derived from a written Constitition. This will cap then gradually remove sovereign debt.
Sovereign (independent) Scotland will have to set up or take full control of all the financial machinery of government. The Scottish Government will require to set up a Scottish Central Bank and provision for a transition period changing from the Pound Sterling to a Scottish Currency - the Pound Scots (the ScotMerk equal to 100 pence).