| @BungleJerry: the money example is a bad one, as several sub-national regions print their own money, such as Hong Kong (China), French Polynesia (France), and the Cayman Islands (UK). All of these territories have their own central banks that print money and regulate monetary policy. OTOH, there are also countries that share currency, such as the 17 European countries that share the Euro currency, and have a unified central bank: the European Central Bank. Scotland, however, is ****NOT**** like Hong Kong, or the Cayman Islands, or French Polynesia. Scotland does NOT actually have its own money. "Scottish banknotes" are merely notes printed by *private* banks, and those notes are denominated in British Pounds. It would be, as if, let's say U.S. law allowed a private bank, like Bank of America, to print US Dollars, alongside the official central bank, the Federal Reserve. So, US dollars printed by this private corporation (Bank of America) would be interchangeable with US dollars printed by the government itself (the Fed Reserve). That's the situation in the UK regarding "Scottish banknotes", which are printed by 3 private banks: the Bank of Scotland (yes, this is a PRIVATE bank, not a central bank), the Royal Bank of Scotland (ditto), and Clydesdale Bank (ditto). |
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