So Scotland is going to be able to issue bonds.
Now councils have issued their own bonds for years but I am interested at how the rating will be realised.
After all, the oil fields are UK-owned, and I doubt that tax reciepts are strong enough to offset risk of default.
OK there is a strong financial sector but does anyone else think that, despite the aim of the Scottish government for independence, maybe, just maybe Westminster will have to act as guarantor?
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