Former prime minister Gordon Brown has said an independent Scotland would become “an international outcast” if it refused to accept a share of UK debt.
In a speech in Coatbridge on Monday night, Mr Brown said refusing to take on debt would be considered as a “default”.
He said this would push up interest rates and the cost of borrowing.
The SNP says Scotland cannot be liable for a debt the UK government has accepted full responsibility for.
In the first of a series of speeches Gordon Brown is to make across Scotland, he described defaulting on debt as a “road to ruin” and said even Zimbabwe was honouring its international debt commitments.
He went on to say “we are an interdependent world” and called on Scottish people to “build on something we have built over the last century” naming “Scottish ideas, Scottish leaders” as having helped shape the UK.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.