I wonder how many Scots who voted ‘Yes’ in last year’s referendum are watching events unfold in Greece and having second thoughts? It’s not quite a ‘there, but for the grace of God’ moment, but it’s not far off. This analogy depends upon two big assumptions, both of which will be disputed by the nationalists.
The first is that Scotland would not have automatically been allowed to remain in the EU following a ‘Yes’ vote, but, as a new state, would have had to apply for membership and, as a condition of joining, would have been forced to join the euro.
How questionable is this assumption? The Scottish government’s position has long been that an independent Scotland would automatically inherit the UK’s EU membership and opt-outs, including the opt-out from the single currency. But the legal basis for this view is pretty threadbare.
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