Scotland's referendum: What are the issues around currency?

What currency would Scotland have in the event of independence? It's one of the big questions ahead of September's referendum.

In the event of a "Yes" vote, the Scottish government says the pound would be kept as part of a formal currency union with the rest of the UK.

But the three main Westminster parties - the Conservatives, Labour and the Liberal Democrats - have ruled out such a deal, effectively saying that whoever is in power after the next UK election would block such a move.

Here, we bring together the main stories, explainers and official documents covering the issue.

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Sterling paper money
What's the current set up?

Pretty straightforward - pound sterling is the internationally recognised currency for the whole of the UK.

Find out more....

Currency debate explained

Keeping the pound: Claim by claim

What powers does Scotland have?

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What could change post-Yes?

The Scottish government says Scotland would continue to use the pound under their planned currency union. The Westminster parties have ruled out agreement - or have they? In March, The Guardian quoted an unnamed UK minister saying a currency union might happen if, for example, Trident stayed at Faslane on the Clyde.

Find out more....

White Paper - Scottish independence reports: Monetary policy

Currency union block could hurt firms, says Alex Salmond

Bank of England governor says Scots currency plan may lead to power loss

Could there be a currency deal involving Trident?

If not the pound, what could it be?

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What do the pro-Union parties have to say?

Chancellor George Osborne and Treasury Secretary Danny Alexander have been clear - saying it is wrong to suggest a currency union would happen. The chancellor says there is "no legal reason" why the rest of the UK would want to share sterling with an independent Scotland, and referred to advice from a senior Treasury official.

Find out more...

'Yes' vote means leaving pound, says Osborne

Osborne denies currency deal claim

Bank of England governor says Scots currency plan may lead to power loss

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Who is saying what, including the view of business?

The prospect of a currency union - or not - is a crucial factor to businesses throughout the UK. Some have said independence wouldn't be an issue, while others have contingency plans allowing them to move Scottish operations south of the border in the event of a "Yes" vote.

Find out more...

What businesses have been saying about independence

Should the CBI be worried?

At-a-glance: Currency in an independent Scotland

Your independence referendum questions

BBC's Brian Taylor on the currency debate

Liz Cameron, chief executive of the Scottish Chamber of Commerce, answers your questions about the independence referendum.

Finance Secretary John Swinney MSP answers your questions on the Scottish independence referendum in a BBC Scotland webcast.

Head of the Better Together campaign, Alistair Darling, was answering questions from website users

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Big reading - reports in full

More on This Story

Referendum issues

More Scotland politics stories

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Scotland Live

  1.  
    Front pages 09:51:

    Glasgow 2014 continues to dominate the front pages of Scotland's newspapers.

    Scotland's front pages

    The Daily Record leads with a picture of 13-year-old Erraid Davies, who is the Commonwealth Games' youngest ever medallist, and the headline: "Too pool for school".

    Meanwhile, the Scottish Sun leads with judo guru Billy Cusack leading Scotland to Commonwealth Games glory just minutes after hearing his father had died.

    The Scottish Daily Mail leads with a full-page picture of the yesterday's men's marathon on the streets of Glasgow and talks of the city's "Super Sunday".

    See all the front pages here.

     
  2.  
    Commonwealth travel - your views 09:35: Via SMS

    Doug from Ayr: I am due to be at athletics on Friday evening and chose to book the park and ride at Silverburn which were advised to do. As they say it is not rocket science. They know how many people are booked so they must be able to work out how many buses are needed.

    Anon: They've had years to organise this. Totally inept.

    Anon: Park and ride at Eurocentral this morning. Absolutely perfect. Straight on.

    John in Glasgow: The transport getting to various places is a shambles. No one knows how to get anywhere, empty buses are shocking. We will get pointless apologies and nothing will change. Great sport, rubbish organisation.

    Peter in Glasgow: Great time at Velodrome yesterday and no problem with trains. Hampden tonight, so I hope the park & ride is sorted.

     
  3.  
    Best moments so far? 09:14:

    Ross Murdoch's victory in the pool? Euan Burton's judo gold? Royal Marine Chris Sherrington's salute to the crowd?

    Ross Murdoch

    BBC Scotland's reporters share some of their favourite moments of the Games so far. What are yours?

    Send us your comments and pictures using #ScotlandLive, by email or by text on 80295.

     
  4.  
    Man charged over pensioner attack 09:06:

    A 23-year old man has been charged with the attempted murder and sexual assault of an 85 year-old-woman in Edinburgh.

    Morningside attack site

    The attack happened in Morningside on 11 July.

    The man is due to appear at Edinburgh Sheriff Court later.

     
  5.  
    Proud parents 09:04:

    "I just managed to stop crying but it was difficult, it was amazing, absolutely amazing. That's the only word to describe it."

    Those are the words of David Davies, father of 13-year-old Scots sensation Erraid, who won a bronze medal in the para-sport 100m breaststroke last night.

    Erraid Davies with parents

    Erraid's coach Lorraine Gifford told BBC Radio Scotland she predicts big things for the teenager, including a trip to the Paralympics in Brazil in 2016.

    Watch Erraid's parents speak to BBC Scotland's Lisa Summers and give their reaction to her success.

     
  6.  
    Do the Rumgay 08:54: Graham Fraser BBC Scotland

    We have seen the 'Mobot' and the 'Lightning Bolt'. Now it is time for the 'Rumgay'.

    The Scottish table tennis star, in a match against Canada, celebrated with a 'wedgie'.

    Rumgay celebration

    He has now challenged Bolt to a celebration face off.

    The fastest man on earth may accept. The again, after seeing the picture above, he may put on those gold shoes of his and run to the nearest airport.

     
  7.  
    Morning Call 08:34: BBC Radio Scotland

    It was a massive weekend for Glasgow with an estimated 700,000 visitors to the city for the Commonwealth Games. While this has seen a big boost for the hospitality sector, it hasn't all gone smoothly, with travel delays starting to bite.

    Presenter Cathy Macdonald asks: how are you coping with the Commonwealth Games?

    Also, with women's boxing taking its place at the Games for the first time, we'll be talking to Olympic champion Nicola Adams's mum. How would you feel if your daughter wanted to be a boxer?

    Call 0500 92 95 00, text 80295 or email morningcallscotland@bbc.co.uk.

     
  8.  
    08:20: Via Twitter BBC Scotland Travel Latest

    Games - heavy exit slip cos of the volume of Games traffic on M8 Westbound at J19 Anderston

     
  9.  
    Today at the Games 08:19:

    Scottish highlights today include two-time Paralympic silver medallist Libby Clegg racing in the T12 100m at the athletics in Hampden.

    Libby Clegg

    Elsewhere, Alex Marshall and Paul Foster could win gold for Scotland in the lawn bowls pairs. Their match against Malaysia will begin at 12:45.

    Wales will play Scotland's women in the hockey at 16:00, while Commonwealth champion swimmer Hannah Miley is in action again in the pool in the 800m freestyle alongside Camilla Hattersley.

    The men's 100m sprint qualifying continues at Hampden, with the likes of the Jamaicans Nickel Ashmeade, Jason Livermore and Kemar Bailey-Cole taking on English hopes Adam Gemili, Richard Kilty and Harry Aikines-Aryeetey.

    Meanwhile, Olympic champion Nicola Adams will begin her challenge in the boxing ring.

    Remember, you can keep across all the action on the BBC. Watch on TV from 09:00, online and listen on the radio.

     
  10.  
    Your first time? 08:11: Marianne Taylor BBC Scotland news

    I had an absolutely fantastic time at the team Badminton at the Emirates last night, where England beat India in an electrifying best of five matches across singles, doubles and mixed doubles.

    Badminton at the Emirates Arena

    I'd never seen live elite badminton before - it was fast, furious and hugely competitive. Which sports have you seen for the first time and what was the experience like?

    Tweet us your thoughts and pictures to #ScotlandLive, email them here or text us on 80295.

     
  11.  
    Eyes on the prize 08:00:

    Team Scotland remain just one gold away from their best-ever Commonwealth Games total and are edging closer to matching their overall best for all medals.

    After Sunday's successes, Scotland have 30 medals following four days of events.

    Scotland's judo team collected 14 medals in Glasgow

    Our best-ever total was 33 medals in Edinburgh, in 1986, a Games boycotted by many African, Caribbean and Asian nations.

     
  12.  
    Good Morning Scotland 07:54: BBC Radio Scotland

    Gary Robertson is live on air bringing you the latest national and international news and analysis.

    Listen live to Good Morning Scotland here.

     
  13.  
    Games travel 07:40: BBC Scotland Travel Latest

    The athletics started yesterday at Hampden, so Mount Florida station, Battlefield and the immediate area around the stadium is going to be very, very busy for the next six days.

    The first session starts at 10:00 with doors opening two hours before, so plan your journey carefully and make sure you leave plenty of time.

    Following yesterday's park and ride problems, organisers say they're putting more resources into the system from today.

    At the Barry Buddon Shooting Centre in Carnoustie, public transport and roads are expected to be particularly busy today and tomorrow. The centre is about a 40-minute walk from Carnoustie railway station.

    Generally speaking, if you are catching a train this morning, services towards Central station from Ardrossan, Largs, Paisley Canal, East Kilbride, Neilston, Newton, Motherwell, Lanark and Larkhall are all expected to be exceptionally busy.

    Peak services to Queen Street station from Stirling, Perth, Cumbernauld, Falkirk and Edinburgh via Airdrie are expected to be the same.

     
  14.  
    Yesterday at the Games 07:33: Graham Fraser BBC Scotland

    It was another great day at the Commonwealth Games for Scotland yesterday.

    The undoubted highlight was the success of Erraid Davies, the 13-year-old swimmer from the Shetland Islands.

     Erraid Davies

    Erraid, the youngest competitor at Glasgow 2014 and Team Scotland''s youngest ever competitor, won a bronze medal in the SB9 100m breaststroke. and her smile melted many a Scottish heart.

    Chris Pritchard proposes to girlfriend in the velodrome

    While we are all feeling a bit soft, how about the moment Scottish cyclist Chris Pritchard proposed to his partner Amanda Ball in the stands of the Sir Chris Hoy Velodrome after racing in the keirin?

    In all, there was two silver medals and three bronze for Scots. There was a second silver of the Games for Aileen McGlynn and Louise Haston in the para-sport tandem time trial. McGlynn also became engaged after her triumph.

    Katie Archibald took bronze in the women's cycling 25k points race in the velodrome, while in the pool Scotland took silver in the 4x200m freestyle relay and Hannah Miley won bronze in the 200m individual medley.

     
  15.  
    Today's weather 07:17: Christopher Blanchett BBC Weather presenter

    It'll be a misty start in places with some patches of low cloud. This should burn off quite quickly to leave a dry morning with bright spells. Through the day it stays dry with bright or sunny spells and light winds.

    The best of the sunshine is likely to be around the coastline with cloud building at times inland. Afternoon highs around 20C to 21C, with a few spots climbing to around 23C in west central Scotland and the south.

     
  16.  
    Latest updates
  17.  
    Welcome 06:59: Marianne Taylor BBC Scotland news

    Good morning and welcome to BBC Scotland Live. We'll be here until 23:00 bringing you all the latest news, sport, weather and travel from throughout the country.

    It's Day five of the action at Glasgow 2014 and there are 27 medals to to be won - we'll have all the latest Team Scotland news as it happens.

    Send us your comments and pictures using #ScotlandLive, by email or by text on 80295.

     

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