New independent Scotland to retain the pound sterling

As an answer to a question being asked an SNP leader, last week, the First Minister Nicola Sturgeon has said an independent Scotland would still retain pound as the nation’s national currency, and put in application to keep full membership of the EU.

Speaking further on the issue, Nicola Sturgeon said an independent Scotland would keep the pound because it is "our currency as much as it is the currency of anywhere else".

Scotland's First Minister affirmed to Sophy Ridge on Sunday that sticking with sterling would be the "starting point" if the country voted for independence.

But if the country joins the EU as being projected by the First Minister, there is the probability that Scotland would be made to adopt the euro in place of the pound.

Ms Sturgeon stressed that: "The starting point for consideration is that Scotland would use the pound.

"It's our currency, it's a fully tradeable international currency; but as I am sure you know I have a growth committee right now looking at a plan for the economic future of Scotland, but also looking in detail at currency options for Scotland."

She added: "The starting point of our considerations is that Scotland uses the pound, it is our currency as much as it is the currency of anywhere else..."

It comes after former first minister Alex Salmond suggested an independent Scotland might ditch the pound.

On the other hand, in an interview last week, he also ruled out joining the euro and said that the country could establish its own currency.

During the 2014 Scottish independence campaign, Mr Salmond vowed Scotland would keep the pound if it left the EU and came unstuck on the issue during a TV debate with Alistair Darling.

Not all EU countries have joined the euro. Saying some enjoy an opt out, including Sweden, Denmark and the UK, but Scotland would not continue to enjoy this if it joined in its own right.

New members are asked to "take on and implement effectively the obligations of membership, including adherence to the aims of political, economic and monetary union" as a condition of joining.

Also last week, Spain's foreign minister Alfonso Dastis warned a newly independent Scotland "would have to join the queue, meet the requirements, go through the recognised negotiating system and the end result will be whatever those negotiations produce".

Ms Sturgeon debunked the rumour that she was at the "back of the queue" for joining the EU, telling Sky's Sophy Ridge there "was no queue" for joining.

She also terminated assertions that people in Scotland did not want another referendum after being promised the 2014 vote was "once in a generation".

The First Minister said the Brexit vote represented a "material change" that allowed her to bring forward a new independence referendum.

She said she had "tried very, very hard to compromise with Theresa May over the past number of months" but that she had met with a government "not willing to enter into that discussion".

Instead, Mrs May is telling Ms Sturgeon "now is not the time" for a second independence referendum. The First Minister proposes a vote should be held before spring 2019. Though she has now agreed to be flexible with the date.