This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/uk-scotland-scotland-politics-25913721

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
Who, what, why? Scottish currency debate explained Scottish independence: Currency debate explained
(about 11 hours later)
What currency would Scotland have in the event of independence? It's become one of the big issues, ahead of September's referendum.What currency would Scotland have in the event of independence? It's become one of the big issues, ahead of September's referendum.
On one side, the Scottish government says that following a "yes" vote, it's in everyone's interests to share the pound and retain the services of the Bank of England.On one side, the Scottish government says that following a "yes" vote, it's in everyone's interests to share the pound and retain the services of the Bank of England.
On the other, UK ministers argue such a deal would essentially see Scotland's monetary policy set by a foreign country.On the other, UK ministers argue such a deal would essentially see Scotland's monetary policy set by a foreign country.
It's a debate which has sparked discussion on all sides, from politicians to businesses and the financial industry itself.It's a debate which has sparked discussion on all sides, from politicians to businesses and the financial industry itself.
On the day Bank of England boss Mark Carney meets First Minister Alex Salmond in Edinburgh, here's what you should know about the post "yes" currency debate.On the day Bank of England boss Mark Carney meets First Minister Alex Salmond in Edinburgh, here's what you should know about the post "yes" currency debate.
The case for a currency union...The case for a currency union...
In its White Paper blueprint for independence, the Scottish government says a currency union is vital to let companies go about their business, otherwise there could be a damaging effect in the rest of the UK.In its White Paper blueprint for independence, the Scottish government says a currency union is vital to let companies go about their business, otherwise there could be a damaging effect in the rest of the UK.
It's also argued sterling would benefit from Scotland's continued involvement given assets like North Sea oil and gas.It's also argued sterling would benefit from Scotland's continued involvement given assets like North Sea oil and gas.
SNP ministers also say monetary unions still leave room for significant differences in fiscal and economic policies.SNP ministers also say monetary unions still leave room for significant differences in fiscal and economic policies.
They point to Luxembourg and Belgium, which have been in currency unions for decades but have different tax policies.They point to Luxembourg and Belgium, which have been in currency unions for decades but have different tax policies.
The case against a currency union...The case against a currency union...
The Westminster government says Scotland already has a working currency arrangement with the rest of the UK - and it's called the Union.The Westminster government says Scotland already has a working currency arrangement with the rest of the UK - and it's called the Union.
It says an independent Scotland would face having to agree to (negotiated) constraints on economic policy with the rest of the country.It says an independent Scotland would face having to agree to (negotiated) constraints on economic policy with the rest of the country.
The UK government also asks why the rest of the UK should enter into a sterling union with Scotland, when recent experience in the euro area has shown how difficult these agreements are to maintain.The UK government also asks why the rest of the UK should enter into a sterling union with Scotland, when recent experience in the euro area has shown how difficult these agreements are to maintain.
They also raise a further scenario. If Scotland failed to a formal deal on currency, it would be free to unilaterally adopt sterling - a situation under which the Bank of England may simply continue on without taking account of Scottish conditions.They also raise a further scenario. If Scotland failed to a formal deal on currency, it would be free to unilaterally adopt sterling - a situation under which the Bank of England may simply continue on without taking account of Scottish conditions.
Who is saying what?Who is saying what?
Former banking bosses....Former banking bosses....
Economists and academics....Economists and academics....
Bankers and business....Bankers and business....
Politicians and campaigners....Politicians and campaigners....