An independent Scotland would have to join the Euro!
Discussion
Just wondered if any PH’ers north of the border would be keen to ‘go it alone the Salmond way’ knowing; they have to reapply to join Europe (therefore securing trading rights etc) and joint the Euro which is falling faster than a burning zeppelin!
Quote in the Telegraph; Scotland is only part of the EU by virtue of the UK’s membership. If Scotland were to leave, it would not automatically assume membership of the EU, it concludes. “EU law would require negotiation of the terms of an independent Scotland’s membership of the EU since the treaties do not provide for an increase in the number of member states other than by treaty amendment.”
Quote in the Telegraph; Scotland is only part of the EU by virtue of the UK’s membership. If Scotland were to leave, it would not automatically assume membership of the EU, it concludes. “EU law would require negotiation of the terms of an independent Scotland’s membership of the EU since the treaties do not provide for an increase in the number of member states other than by treaty amendment.”
There is some dispute about whether Scotland (and the rest of the UK - bearing in mind that the UK would cease to exist too) would need to re-apply. But even if they do, it does not automatically mean joining the Euro either. Sweden and Czech Republic are supposed to be required to join the Euro but have so far resisted all attempts by simply refusing to join the voluntary ERM II (a prerequisite for joing the Euro).
This is all assuming that the Euro still exists by the time independence might come about. Or that Scotland even bothers to apply for full EU membership (rather than adopt EFTA status like Norway) - not necessary a given as one of our major bugbears about the EU (ignored by Westminster) is the Common Fisheries Policy.
This is all assuming that the Euro still exists by the time independence might come about. Or that Scotland even bothers to apply for full EU membership (rather than adopt EFTA status like Norway) - not necessary a given as one of our major bugbears about the EU (ignored by Westminster) is the Common Fisheries Policy.
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