Scotland uncertainty raises contagion prospect

By Tessa Wilkie
11 Sep 2014

As Scotland prepares to vote on September 18 opinion polls show the referendum is too close to call. One way this could impact the public sector markets is if other regions that have campaigned so far unsucessfully for independence from their sovereigns, such as Spain’s Catalonia, take courage from Scotland's attempt to try for themselves.

“It could have a broader effect if we see more noise in Spain and other European regions,” said a head of public sector DCM, who said — along with several other SSA bankers — that so far the wider public sector markets outside sterling had been unaffected.

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