Scottish independence referendum had passed

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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.

Reference no: EM13795684

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