Nicola Sturgeon has refused to say how long it will take to launch a new currency if Scots vote for independence at a future referendum.
The First Minister unveiled a 108-page report on the economy today which argued Scotland could no longer afford to stick with Westminster.
The SNP leader said Scots would still be able to continue using the pound for as long as it took to finalise a replacement.
But she was unable to put a timescale on the process which her opponents claimed was “a dangerous recipe for years of chaos”.
Speaking at a press conference at her official residence in Edinburgh, the First Minister said building "a stronger, fairer and more sustainable” economy was more likely with independence than remaining in the UK.
She admitted there would be checks on the movement of goods between Scotland and England in the event of independence - but denied Scots faced the prospect of showing passports to visit relatives south of the Border.
The document detailed her government’s proposals for the creation of a separate Scottish pound - but the First Minister repeatedly refused to give a timescale for moving to the new currency.
She argued that doing so would be irresponsible as it could lead to the change taking place at a time which was not ideal for the economy.
Under her plan a Scottish Central Bank would be established after the vote for independence.
It would report on economic conditions and "build credibility" following independence with the Scottish Parliament making the final decision on when to move to the new currency.
"Why don’t we put a particular time scale on that? Because we consider that would not be responsible,” the First Minister said.
"One of the criteria for the exact time at which that move is made would be the overall economic conditions and, therefore, if you tie yourself into a specific timescale, you could end up trying to do it at a time that would not be optimal.”
The First Minister, reiterating what was said in the paper, told journalists the move would come “as soon as practicable”.
When asked if the time scale could be five or 10 years, the First Minister said she hoped it would take less time than that.
Membership of the European Union – one of the Scottish Government’s key arguments for independence – would not be possible until Scotland has control of its monetary policy and currency.
The First Minister said negotiations for access to the bloc could go forward during the transition phase to a new currency.
In order to create the Scottish pound, the Scottish Government would have to set up a central bank, the process for which the paper said would start immediately after a vote for independence.
The paper also stressed the economic benefits of removing trade barriers as an independent Scotland rejoins the EU.
Sturgeon said free movement around the UK and Ireland was already guaranteed under the Common Travel Area arrangement.
But the paper admitted there would be checks on goods moving between Scotland and England to meet EU laws.
Daniel Johnson, Scottish Labour spokesman on the economy, said: 'While economic chaos reigns, the SNP is focused on plunging Scotland into even greater turmoil.
"The truth is this – the SNP government has no answers to the key economic questions surrounding independence.
"They have no plan for a central bank worthy of the name and no plan to balance the books in the event of independence.
"Scotland using the currency of another state without a shared political system is a recipe for mayhem.
"Those with mortgages are right to be alarmed at this slapdash fiscal policy. The SNP’s plan for homeowners to pay off mortgages in a different currency is a disaster waiting to happen.
"What Nicola Sturgeon and her nationalist government plan to do is to drive Scotland into decades of economic chaos and austerity so that they can pursue their constitutional obsession."
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