Scotland
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Asked about the Scottish Government’s proposed referendum question, the PMS said the UK Government was holding a consultation asking for people’s views on the question or questions to be posed and would listen to views expressed in that consultation.
Asked about whether the Bank of England could act as lender of last resort for an independent Scotland, the PMS said this was one of the issues that would need to be addressed in the debate over independence and that Danny Alexander gave a speech exploring some of these issues at the end of 2011, including the risks of having monetary union without fiscal union.
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