Game, Set and Match to Alex Salmond and YES? So, clearing away the bum fluff and rhetoric from the article below, basically the position is this: Only the UK Government can bring about a Plan B, by refusing an independent Scotland currency union and acess as lender of last resort to the Central Bank of the UK aka the Bank of England This would effectively mean an independent Scotland keeping the pound without a formal currency union, but starting debt free, because denial of a share of assets means denial of a share of liabilites. Legally, the UK Treasury have already admitted they are solely responsible for UK debt. The Scottish Government continues to promote Plan A - a currency union with rUK - because it believes it to be in the best interests of both an independent Scotland, and rUK. Under such circumstances it woud be prepared to pay a share of UK debt, although it is under no legal obligation to do so. So the guarantee to the Scottish people is this - either you will keep the pound with independence, as part of a formal currency union, or you will keep the pound without a formal currency union, but be immediately £5 000 000 000 per annum better off, because an independent Scotland would then start debt free. Can the First Minister hammer home these points in the next two debates and at every opportunity? And can YES/the Scottish Government/the SNP put a leaflet through every door in Scotland explaining this enormusly good news?
Posted on: Sat, 09 Aug 2014 23:46:27 +0000
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