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> the European Central Bank doesn't act as a lender of last resort for individual banks I do think they'd buy independent Scottish treasury bonds & then the in

> the European Central Bank doesn't act as a lender of last resort for individual banks I do think they'd buy independent Scottish treasury bonds & then the independent Scottish government can use the proceeds for emergency lending. Isn't this how the German banks are covered?

cmdkeen 10y ago
If Scotland were in the Eurozone yes. Getting them to do that while applying to join, while also potentially giving none too subtle nods and winks that you don't actually intend ever adopting the Euro is stretching credibility.
- falsedan 10y ago
  OK! I understand your point.