gosub
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The email or Lyddon's work? Have you read the latter? On page 19 is a very interesting observation, which gives a clue as to why Salmond wishes to keep the British pound:
And he goes on to extend this to the Euro.
But really, as I've said upthread, I really would prefer an independent Scotland to have its own currency, in which case Lyddon's objection goes away.
Sorry but I've got to disagree. He's free to express his opinions in whatever form he chooses. It's not bullying: it's going to be a secret ballot so he won't know how his employees vote.
Lyddon's work seems a little out of date now. rUK as I understand it has said it will continue to honour ALL the debt regardless, and has even subsequently issued new debts as well as creating an instrument for Scot's debt. Looked a bit seat of the pants, as was day of first subsequent gilt auction and Reuter's had put out a briefing prepare to hedge, but they avoided a potential vacuum on a risk Reuters had as of last month as about as likely as Salmond rolling a double six. So that's covered and so far gilts behaving normally. If, as we closer, yes looks more like winning, interest rates WILL rise, if only because the London property bubble will be proportionately larger part of the rUK economy. Institutions are happily buying this debt on which guarantees that Salmond doesn't have his name on the UK chequebook, even Soros has warned about a currency union. Salmond with his bluff and bluster line that he will walk away from the debt and the markets will crash, merely creates a danger for Scots that the interest payable on their personal debts (which are lower than England's) will be serviceable, his line to Holyrood coincidently on the day of the first gilt auction after the currency union crystallized was that Osbourne would but be giving everybody in Scotland £25k was mis-selling as no Scot would see a penny from the treasury and would, if it shoulder sloped find it harder to borrow in the international markets contrary to his claim in the same speech that small countries have good credit ratings- not if they walk away from debt they don't. I was worried that Scot's not being able to service their loans and mortgages could endanger Britain's banks, but the deputy of BofE has outlined that UK's banks have capital holding 1.5 the size of Scottish personal borrowing, so might bend a bit but not break.
Concetrating on Salmond (a) Cos he theortetically leads negotiations, (2) his position salts earth for credible seperation
So good other stuff in there about the EU though, but that would be a while away (probable treaty in 2019 they will want out of the way first)