Alex Salmond grilled by host over UK government negotiations

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Last month, Scotland’s former First Minister launched the pro-independence Alba Party with a demand for a second referendum that could see the country split from the rest of the UK. The SNP suggested Scotland could continue using the pound for a period of time following a successful independence vote before potentially transitioning to its own currency, but the party remains committed to re-entering the EU and new members must pledge to adopt the Euro. Before the unsuccessful independence referendum in 2014, Mr Salmond, who was First Minister at the time, suggested an independent Scotland could carry on using the British currency. However, this claim was rejected by then-Chancellor George Osborne.

Referring to the 2014 poll, told The Times Scotland: “I led us into a referendum whereby it was the correct position to look at a sterling arrangement with the UK.

“That is no longer the world we are in.

“We are in a world with very low-interest rates, where borrowing costs are at a historic low and where there is a great urgency in establishing your own currency at as quickly a rate as possible.”

But Mr Salmond has been brutally mocked by Express.co.uk readers, who have ridiculed any idea of ditching the pound and replacing it with a new currency in an independence Scotland.

Commenting on our original story, one person wrote: “The man is deluded. You don’t just print money.

“You require a robust financial infrastructure which Scotland simply doesn’t have.

“David McKay has stated that Scotland will not repay or contribute to the Covid bailout.

“What global financial institution/bank would trust them if something goes wrong?”

A second person said: “Clueless on how currency and economics work.

“Typical SNP independence sheep.”

Another reader commented: “They are living in the land of make believe without the sunshine.”

A fourth person wrote: “Giving away independence and fishing to Brussels.

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“The Scotsnats are completely barking.”

Another reader simply added: “Fantasy land Alex, as usual.”

During the referendum in 2014, Scotland voted by a margin of 55 percent to 45 percent against Scottish independence.

Boris Johnson has rejected all demands from the SNP to transfer the relevant powers to Holyrood to hold another vote.

Despite this, Ms Sturgeon is intent on pushing ahead, and has vowed to hold another independence referendum if the SNP can secure a majority in the Scottish election on May 6.

Mr Salmond launched the Alba Party earlier this month, and wants to create a pro-independence “super-majority” in Holyrood following the upcoming election.

In 2019, Scotland’s budget deficit was as high as 7.9 percent of GDP, compared to 1.9 percent for the UK as a whole.

But if the country leaves the UK, it would be forced to drastically slash its budget deficit before it could apply for EU membership.

Matthew Lynn, a financial writer, warned an independent Scotland would risk currency instability.

Writing for Money Week, he said: “It might be the euro, but that would probably mean a long and harsh Greek or Italian-style recession while the public finances were put back in shape.

“Or it might be the new Scottish currency, but that would be sharply devalued as it struggled to establish its credibility in the market and might only end up being worth half or less than you thought it would be.

“Either way, the outlook is not good.”

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