>> Business Economics
Suppose (contrary to fact) that the Scottish independence referendum had passed, Scotland had become independent, and you became its finance minister. Your first order of business is to recommend a currency for Scotland. Three proposals have been made: that Scotland adopt its own currency, that it use the English pound, and that it use the Chinese Yuan (formally, the renminbi). Please make a recommendation to the Scottish parliament. Rank all three alternatives and explain why you rank them that way.