British Pound Sterling

Darling, who will lead the pro-union campaign in the referendum campaign, says the fear of a Eurozone-style meltdown will thwart any hopes of a currency union with London built around the pound after Scottish independence.

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The alternative of Scotland simply using the pound would be more like "serfdom, than freedom”," Darling will say, The Scotsman reports.

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Swinney has also suggested Scottish banks should continue to be regulated by UK authorities.

While confirming the intention to enter a "sterling zone" the minister confirmed preference for the UK regulatory framework.

Swinney said: "As the Bank of England takes on the role of regulator for UK financial services - a very sensible and long overdue position - retaining the pound will preserve the highly integrated UK financial services market."

It was however also confirmed that SNP policy favours an independent Scotland joining the Euro, pending a referendam.

However, the Eurozone mess has seen this desire cool somewhat.



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