Scottish Bonds to Create ‘Financial Referendum’ on Independence

Scottish Bonds to Create ‘Financial Referendum’ on Independence The Scottish government is for the first time giving the bond market a say over the risks of the nation breaking away from the UK. The semi-autonomous administration in Edinburgh plans to sell its debut bonds — nicknamed kilts after the UK’s gilts — in the coming months. For the ruling Scottish National Party, which supports breaking up the three-centuries old union with England, it’s a way of getting investors and bankers to deal directly with Scotland rather than via Westminster — and by extension making them more comfortable with the idea of secession.