The money markets are breathing heavily down the neck of the UK government at the moment. When they said at the beginning of the year that rUK would accept the whole of the UK debt in the worst case, it was because they had to calm down the markets who were extremely worried at the categorical insistence that there would not be a currency union. That rashness is now coming home to shite on their doorstep in the light of the increasing probability that we might just do it and vote Yes.
Best possible scenario – that the markets force the UK government to shuffle their feet and accept a currency union in the event of a Yes vote. The markets certainly have the power – remember John Major’s rash promise to ignore the run on the pound in the 90s and the humiliating climb-down which resulted. If this happens, the one argument that No has is gone, and we have a walkover referendum.
At the moment, the UK government, and the other unionist parties who are in cahoots with the slash-and –burn strategy are like the sheriff in Blazing Saddles, putting a gun to their own head as a threat, and here it is….