The SNP's Westminster leader, Ian Blackford MP, has today admitted on Sky News that ‘there is a requirement in principle that you join the euro’ if Scotland was to leave the UK and apply to join the EU.
But he argued that a separate Scotland would try to avoid playing by the rules by failing to take the step to join the Exchange Rate Mechanism (ERM) - despite it being a requirement for all new member states.
However, Mr Blackford conceded that “The European Union is a rules-based organisation.”
Pamela Nash, chief executive of Scotland in Union, said:
“The SNP’s currency plans are in utter chaos.
“Nicola Sturgeon wants to scrap the pound which would put wages, pensions and trade at risk; create a new currency from scratch which would require billions of pounds in reserves; and apply to join the EU which would require committing to the euro.
“Even Ian Blackford accepts that is a requirement for new member states.
“European countries would not look kindly on a country which refused to play by the rules.
“It’s clear the only way to save the pound is to remain in the UK.”