Scotching the Eurozone
Conventional wisdom suggests that Scottish independence is possible, albeit not very likely, while any country’s departure from the eurozone is fanciful. But the monetary decisions that a newly sovereign Scotland would have to make are at least as likely to be faced by some eurozone countries over the next couple of years.
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LONDON – Which of the following events is more likely to happen this year: Scotland votes to secede from the United Kingdom in its September referendum, or at least one country decides to leave the eurozone? Conventional wisdom suggests that Scottish independence is possible, albeit not very likely, while any country’s departure from the single currency is fanciful.