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http://www.heraldscotland.com/politics/referendum-news/coalition-hunts-minister-at-centre-of-currency-union-row.23823346

The vast majority of currency transactions, at a national level, are not carried out via the use of paper currency - it all amounts to confidence in the national bank. If a company in Scotland was buying from a company in another nation the transaction would be in electronic form. If the...

There is a difference between a currency union and Scotland using Sterling. The UK simply could not stop an independent Scotland from using Sterling as a currency.

The UK would not be able to stop the Scots from using sterling anymore than the US could stop them using the dollar. Of course doing so would mean they'd have no control of interest rate policies or the like and it would be difficult for them to obtain international funding without their own...

That argument raises too many potential problems. If the Scots voted to leave the Union and the rest of the Union said 'no' then essentially Scotland would become a colony - forced to stay in the Union against their will - simply not practical. How many would accept an EU 'in/out' referendum...