The bank now boasts a sterling balance sheet, with impressive, ample capital.

FORBES: Fact and Comment

Further, they say that Scotland contributes to the strength of sterling, not least through the hike which oil and gas gives to the balance of payments associated with the currency.

BBC: Scottish independence: Political battle over currency

The idea was a cold-turkey cure for endemic balance-of-payments problems, turning economic management on its head by floating sterling and letting the market dictate the exchange rate.

ECONOMIST: Post-war Britain