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Scottish 'Yes' vote could cause eurozone-style currency crisis, Goldman Sachs warns
Goldman Sachs has warned that the UK could fall into a eurozone-style crisis if Scotland votes for independence later this month. In some of the most bleak predictions economists have made about independence, the Wall Street bank said a "Yes" vote on September 18, while looking unlikely, "could have severe consequences" for both the Scottish economy and the UK overall. Goldman warned that public services would have to be cut if Scotland goes it alone, and that the country would face much higher borrowing costs. But the most worrying consequence, the bank predicted, would be that uncertainty over a currency union would ... (full story)
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