AN independent Scotland will launch its own currency that sounds like something out of a Robert Burns poem.
Previous plans to keep the pound but call it ‘the poond’ have been abandoned in favour of a new currency, with officials debating a mickle-muckle decimal system versus ‘the bawbee’, which would be pegged to the Icelandic Krona.
Martin Bishop, chief economist at Madeley-Finnegan, said: Scotlands thriving exports of oil, gas and teacakes, balanced against relatively small imports of Mars Bars, giant pandas and heroin, should give them a strong currency.
The mickle, the bawbee or the hirey will initially lack credibility, but it will almost certainly outlast the Euro.”