Free exchange | How long would Scotland keep sterling?

The political appeal of currency union and disunion

By G.I. | WASHINGTON, D.C.

I HAVE watched the debate over Scotland’s independence with a certain déjà-vu. In 1995, I along with everyone else in Canada watched nervously as Quebeckers voted on whether to separate. Like Scotland’s separatists today, Quebec’s then said they would continue to use the old country’s currency. Jacques Parizeau, the separatist leader, traveled in a bus decorated with the Canadian dollar and insisted that Canadian objections could not stop Quebec from using it.

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