See you later? Wales could transition to its own currency in the event of independence (Image: GETTY)
Wales could explore the prospect of creating its own currency in the future, Express.co.uk has been told.
It comes as an independent commission into the country's constitutional future found that independence is a "viable" option.
The appetite for leaving the union among the population is extremely low, however.
The latest data show that just 22 percent of people want independence, compared with a staggering 56 percent who do not.
Powered By
00:00/02:30
10
10
Jamie Oliver's Mug Cake
Share
Next
Stay
This hasn't stopped Plaid Cymru leader Rhun ap Iorwerth from setting out his party's plans for an independent Wales, one of the most radical being the creation and introduction of an entirely new currency.
READ MORE Wales is showing how disastrous Keir Starmer's blueprint for power is
Stay up-to-date with the latest Politics news Join us on WhatsApp Our community members are treated to special offers, promotions, and adverts from us and our partners. You can check out at any time. More info
Only a small portion of Welsh people want to see the country leave the UK — around 22% (Image: GETTY)
The three possible future scenarios for Wales all warned of economic stress in one form or another. Only independence, it said, might free the country to pursue financial gain. In the short to medium term, however, this would seriously hurt the country.
"We would work through this period using the economic levers at our disposal," Mr ap Iorwerth said. "For me, the best way to do this would be to have our own currency. We wouldn't have to, we could choose to keep the pound, but there are all sorts of options to take to mitigate those challenges of becoming an independent country."
Wales hasn't had a native currency for hundreds of years. Its monetary system was only unified with the creation of the Welsh Pound in the 16th century, and even that was based on its neighbour's money. It was replaced by the English Pound in 1707 and was later swapped for the Pound Sterling in 1801.
Unlike Scotland, Wales has neither a central bank nor treasury, both vital cogs in the creation and maintenance of a national currency.
Mr ap Iorwerth said: "If we have our own treasury in the future, we'd have the option of having our own bank [which would then] give us the option of making decisions about currency."
Don't miss...
Navy's ￡3.2bn warship sent to replace faulty carrier also plagued by problems [REPORT]
An independent Wales—The 'only viable option' or a 'disaster' waiting to happen? [EXCLUSVE]
Welsh Labour 'giving succour to separatists' with bombshell independence report [LATEST]
Become an Express Premium member Support fearless journalism Read The Daily Express online, advert free Get super-fast page loading
Start 30-day
FREE trial
Rhun ap Iorwerth believes the best option for Wales is to have its own money (Image: GETTY)
While he said it "wouldn't be up to me to decide which one would be best", he added: "I think having our own currency would be the best. It would give us more flexibility in growing the economy, in creating jobs, and in tackling poverty."
While Britain's banknotes are printed at the Bank of England's printing works in Debden, Essex, the Royal Mint is based in Llantrisant, South Wales, and is renowned for its historical craftsmanship and world-beating quality.
Plaid Cymru has long called for Wales to have its own sterling notes as Scotland and Northern Ireland do. Jonathan Edwards, Plaid MP for Carmarthen East and Dinefwr, previously said Wales would have more of an equal footing in the union if it was able to have its own currency.
With a view to independence, Mr ap Iorwerth noted that countries creating new currency in the aftermath of the fall of a union or empire is no new thing.
However, for most, the gamble poses too much risk for too little reward. Andrew RT Davies, leader of the Welsh Conservatives, said independence and so the creation of a currency "wasn't a viable option".
Trending
The Royal Mint, based in Wales, is renowned around the world for its expert coin making (Image: GETTY)
He said: "The report clearly says there are economic consequences (of independence). Why would you want to take a course of action that will be economically damaging? It's viable for me on a cold day to go and jump into Cardiff Bay, but you wouldn't want to do that because it's cold and you might die of hypothermia.
DON'T MISS
Powered by
Savings app launches new Cash ISA paying 'highly competitive' interest rate
1 Comments
Savings alert as accounts breaching tax thresholds triple in one year and how to avoid
1 Comments
The Tories risk leaving Labour with no money left after the election
120 Comments
An independent Wales: The 'only viable option' or a 'disaster' waiting to happen?
447 Comments
Rachel Reeves squirms as BBC host skewers her over screeching Labour U-turn
452 Comments
Warning state pension age could reach as high as 90 as current policy is ‘unsustainable'
Comments
Best savings accounts this week paying up to 8% interest - 'move before too late'
41 Comments
Interest rates must be cut today for these four reasons, ex-Lloyds Bank economist says
2 Comments
Building Society increases interest on online ISA to 'excellent' 5.05%
2 Comments
Inflation warning as UK on course for highest of any G7 country this year and next
40 Comments
Wales warned that hated tourist tax would 'devastate' sector and damage economy
108 Comments
New blow for UK seaside town dubbed 'Costa Del Dole' as high street bank closes
38 Comments
Homeowners warned 'don't sit on your hands' as Nationwide to raise mortgage rates by 0.30%
2 Comments
Fury as cash-strapped Labour council hitting UK city with 'terrible' council tax hike plan
153 Comments
Bank of England sold Government debt without 'any regard to value for money'
90 Comments
Coventry Building Society now offers the best easy access account savings option
1 Comments
Savings expert raves about this 5.15% savings account that ‘simply beats the lot'
Comments
Top 5 easy access savings accounts with interest rates up to 5.2%
2 Comments
Andrew Bailey grilled by YOU on sky-high inflation and why he got recession forecast wrong
31 Comments
Britons could boost savings by ￡1,000 in two years and beat inflation with simple switch
1 Comments
Savings app launches new Cash ISA paying 'highly competitive' interest rate
1 Comments
Savings alert as accounts breaching tax thresholds triple in one year and how to avoid
1 Comments
The Tories risk leaving Labour with no money left after the election
120 Comments
An independent Wales: The 'only viable option' or a 'disaster' waiting to happen?
447 Comments
Rachel Reeves squirms as BBC host skewers her over screeching Labour U-turn
452 Comments
Warning state pension age could reach as high as 90 as current policy is ‘unsustainable'
Comments
Best savings accounts this week paying up to 8% interest - 'move before too late'
41 Comments
Interest rates must be cut today for these four reasons, ex-Lloyds Bank economist says
2 Comments
Building Society increases interest on online ISA to 'excellent' 5.05%
2 Comments
Inflation warning as UK on course for highest of any G7 country this year and next
40 Comments
Wales warned that hated tourist tax would 'devastate' sector and damage economy
108 Comments
New blow for UK seaside town dubbed 'Costa Del Dole' as high street bank closes
38 Comments
Homeowners warned 'don't sit on your hands' as Nationwide to raise mortgage rates by 0.30%
2 Comments
Fury as cash-strapped Labour council hitting UK city with 'terrible' council tax hike plan
153 Comments
Bank of England sold Government debt without 'any regard to value for money'
90 Comments
Coventry Building Society now offers the best easy access account savings option
1 Comments
Savings expert raves about this 5.15% savings account that ‘simply beats the lot'
Comments
Top 5 easy access savings accounts with interest rates up to 5.2%
2 Comments
Andrew Bailey grilled by YOU on sky-high inflation and why he got recession forecast wrong
31 Comments
Britons could boost savings by ￡1,000 in two years and beat inflation with simple switch
1 Comments
Savings app launches new Cash ISA paying 'highly competitive' interest rate
1 Comments
Savings alert as accounts breaching tax thresholds triple in one year and how to avoid
1 Comments
The Tories risk leaving Labour with no money left after the election
120 Comments
An independent Wales: The 'only viable option' or a 'disaster' waiting to happen?
447 Comments
Rachel Reeves squirms as BBC host skewers her over screeching Labour U-turn
452 Comments
Warning state pension age could reach as high as 90 as current policy is ‘unsustainable'
Comments
Best savings accounts this week paying up to 8% interest - 'move before too late'
41 Comments
"So, why on earth would you want to go down the route of independence and break up the UK which is the most successful union the world has seen?"
"We are stronger a part of that union by being a key member of it rather than taking this course of action that the nationalists get excited about when navel-gazing reports like this one are published."
The notion of creating a new currency on the British Isles has been floated in Scotland, though banking experts have warned that any newly independent Scottish money would be worth significantly less than its Pound Sterling sister.
Related articles Prince William mocked as 'very bland England fan' by Welsh independence leader 'English people should want independence from the UK' says Welsh nationalist 'Stunning' new poll shows dramatic surge in support for Welsh independence Putin's plan to shrink England and give Wales independence after 'WW3 victory' Welsh First Minister hopeful says 'up to people' if Wales boots royals out