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I think it's exactly what would happen (use the pound) in the short to medium term. I don't know about the long term. If the Eurozone sorts itself out (and there are reasons to say this is unlikely until the Eurozone accepts that it needs to match fiscal policy with monetary - including some form of redistribution in the immediate future), I could see Scotland embracing the Euro. I don't see them trying to start a new currency in the near future.