Da Man Clay
T'Blades
- Dec 16, 2004
- 16,286
This probably couldn't work. You can't just change the terms of a debt by transferring the owner of the debt without the permission of the lender. The world's banks would probably just laugh at us if we tried this.
You are of course indeed correct. The UK would still be responsible for the debt, however, Scotland would then presumably quite simply owe us their percentage of the debt. I meant any future borrowing they would be paying more as apposed to that currently owed. Not worded at all well on my part!
Explained a little better here - http://niesr.ac.uk/blog/scottish-independence-and-uks-debt-burden#.UvVHa3ggHCQ