lender of last resort

Publication date: 7 Aug 2014 | Publication type: NIESR Discussion Paper | Theme: Exiting the EU & Britain after Brexit | Authors: Armstrong, A, McCarthy, D
Scotland’s lender of last resort options depends on its choice of currency. If Scotland becomes independent, there is no question that it could use sterling. But this looks likely to be without the backing of the UK government and therefore without the Bank of England. Using sterling in these...