Back in 1979, IIRC. When we joined the EMS* (the precursor to the Euro) and the UK stayed out, we had to break with Sterling. It was a long-term strategic decision. I remember the wild currency swings, especially on the odd days we were actually worth more than Sterling.Pappa wrote:The Republic of Ireland used to do much the same before they switched to the Euro.Rum wrote:They want to stay with the Bank of England at the moment. Cake and eat it etc..

* http://en.wikipedia.org/wiki/European_E ... _Mechanism
But the original decision to stick with Sterling was made in a radically different environment to the one that Scotland finds itself in today.