Olli Rehn: Scotland would need central bank to join EU

Scotland and UK flags

An independent Scotland would not be able to join the European Union if the country keeps the British pound as its currency, Olli Rehn, the former European commissioner for economic and monetary affairs and the euro, has warned.

"Any [EU] candidate country must be committed to the economic and monetary union, which implies the will and expected capacity to meet the convergence criteria of euro membership in due course," Rehn writes in a letter to UK Treasury chief secretary Danny Alexander..

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