Amidst its efforts to separate from the United Kingdom, Scotland finds itself facing future economic concerns.
Financial Times reports that after three hundred years of unity with England, Scotland looks to gain its independence. However, European Commission president Jose Manuel Barroso claims that the new nation will find it difficult to seek acceptance into the European Union. With the future currency in question, Scotland currently receives a heap of scrutiny for First Minister Alex Salmond’s decision to part.
“It would be extremely difficult to get approval of all the other states,” Barroso says of the EU’s consideration of Scotland’s membership. “To have a new member coming from one member state”
According to The Telegraph, the future currency is not the only issue that faces people of the UK. The public is also concerned with ways that Scottish independence may affect retail businesses.
“The decision on independence is ultimately one for the electorate,” says British Retail Consortium director Helen Dickinson. “We are working with our members to ensure retailers understand that implications for their business, supply chain, staff and customers.”