The current Scottish government's plan for independence is for Scotland to start life as an independent nation while still using sterling as its currency. This means Scotland will retain its position as a currency user and not a currency issuer.

This also means that the UK Treasury and the Bank of England will be in charge and will control many of the economic levers in a new state.

We asked Aeron Davis, the author of "Bankruptcy, Bubbles, and Bailouts. The Inside History of the Treasury since 1976" his opinion.

Aeron conducted over 50 interviews with former senior Treasury civil servants and former Chancellors and has a deep understanding of the Treasury's culture. His conclusion? It would be a terrible idea.

Aeron's book is available here:

https://manchesteruniversitypress.co....