If it goes independent...
"UK Treasury had no choice but to give Scottish independence debt pledge
In reality, the Treasury had little choice but to take responsibility for the UK's entire debt stock in the event of Scottish independence.
That had always been seen as the preferred option, but as investors returned for the new year and the referendum was suddenly on the horizon they were hungry for reassurance. Their questions over who is on the hook for paying back UK bonds are answered: The UK continues to cover the debt and – this is the tricky question – it must separately agree with a new Scottish government how to share that burden.
The announcement from the government on Monday that it would cover all issued UK government bonds, known as gilts, also makes for reassuring headlines for those voting in the referendum. With a whole list of economic uncertainties around independence and the potential unwinding of 300 years of constitutional union, it is one less thing to worry about."
UK Treasury had no choice but to give Scottish independence debt pledge | Politics | theguardian.com
"UK Treasury had no choice but to give Scottish independence debt pledge
In reality, the Treasury had little choice but to take responsibility for the UK's entire debt stock in the event of Scottish independence.
That had always been seen as the preferred option, but as investors returned for the new year and the referendum was suddenly on the horizon they were hungry for reassurance. Their questions over who is on the hook for paying back UK bonds are answered: The UK continues to cover the debt and – this is the tricky question – it must separately agree with a new Scottish government how to share that burden.
The announcement from the government on Monday that it would cover all issued UK government bonds, known as gilts, also makes for reassuring headlines for those voting in the referendum. With a whole list of economic uncertainties around independence and the potential unwinding of 300 years of constitutional union, it is one less thing to worry about."
UK Treasury had no choice but to give Scottish independence debt pledge | Politics | theguardian.com
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