Scotland needs a plan for a new currency if it wants independence | Barry Eichengreen

There must be a blueprint for what follows sterling and a transition to the euro

The odds of Scotland becoming independent are rising by the day. In Scotland's 2014 referendum, about 45% of voters favoured independence. Brexit, which about 60% of Scotland's voters opposed, is now forcing the Scottish electorate to choose between staying in the UK and remaining in the EU, shifting public opinion further towards independence.

Boris Johnson's shambolic EU trade negotiations heighten that dilemma. Reflecting such pressures, pro-independence sentiment has exceeded 50% in six polls conducted this year.

Related: Covid has reduced Scottish independence to a basic question: Sturgeon or Johnson? | David Clegg