A new report has outlined a 30-month strategy for Scotland's currency following independence, recommending the adoption of a Scottish pound (Sc£) from 'Independence Day'. The document, authored by Professor Thibault Laurentjoye of Aalborg University Business School, was prepared for the Scottish Currency Group ahead of a conference in Dunfermline on Saturday.
The report's 22 key recommendations include introducing Scottish banknotes and coins around two weeks after Independence Day, restricting residential property purchases, and building up foreign currency reserves. It also suggests converting loans and deposits into Scottish pounds at par on Independence Day and establishing a Scottish electricity market denominated in the new currency.
Professor Laurentjoye criticizes the Scottish Government's previous stance on retaining the pound sterling, calling it a 'weak point' of the economic case for independence since 2014. He argues that the SNP has drifted from its original purpose, mutating towards a more complacent form of government that does not fully grasp what real independence would require.
The report comes as the Scottish Currency Conference is set to take place on Saturday, with the debate over Scotland's currency options continuing to evolve.