On the non-viability of an independent Scotland staying in the sterling zone

As is being widely reported (exclusive to all newspapers), Scotland is considering vetoing Brexit, if not launching a second referendum to express its pro-European Union feelings in an independent context.

Somewhat overlooked in that context, however, is the role played by the sterling zone in the original Scottish referendum.

An independent Scotland after all wanted it all: independence, European Union membership and continued use of sterling.

In the event Scotland did vote ‘leave the UK’ in a second referendum, this time round the chances of it being allowed to stay within the sterling zone would be decreased sizeably.