The phrase "a Scottish currency" is correct and usable in written English.
It can be used when referring to the currency that is specifically used in Scotland, such as the Scottish pound.
Example: "The shop accepts both English pounds and a Scottish currency for transactions."
Alternatives: "Scottish pound" or "currency of Scotland".
So is the resolution of a Scottish currency really more difficult than dealing with Iran?
That would mean a separate Scotland was left with three options - unilaterally keeping the pound, creating a Scottish currency or joining the euro.
A group of senior SNP politicians is already working on plans to propose a Scottish currency and a Scottish central bank.
This would involve abandoning plans for independence-lite and going for the real thing: a Scottish central bank issuing a Scottish currency and setting its own interest rates.
Alex Salmond is facing growing pressure to set out alternative plans for a Scottish currency from senior nationalists and allies after the three main Westminster parties snubbed a deal on sterling.
Even if Scotland were instead to follow Hong Kong's example and have a Scottish pound which a Scottish currency board keeps at parity with sterling, the interest rate would essentially be imposed on Scotland by world markets.
Not only did the SNP lose the referendum, but it abandoned its 70-year-long demand for a separate Scottish currency, and bought into being part of a UK-wide economic framework.
"It seems that the two options for an independent Scotland are either a currency union with the rest of the UK, or a separate Scottish currency – neither of these options are without risk for our business," it said.
Last night Salmond referred to a "range" of available currency options but there are arguably only two, a new Scottish currency or the euro, both of which were deemed politically unsellable last time round.
If not, the SNP would have to offer independence based on either a separate Scottish currency or the euro.
"The greater the amount of public debt an independent Scotland assumes, the greater the importance of retaining some policy flexibility and the stronger the case for introducing a new Scottish currency," he said.
