Oil-for-Debt Swap May Cut Economic Risk in Independent Scotland

Scotland may be able to reduce the economic risks of independence by swapping revenue from oil and gas for a cut in the level of debt that it would assume on leaving the U.K., according to a report published today.

An oil-for-debt swap, coupled with its own currency, would leave an independent Scotland looking more like Scandinavian countries with their own currencies, the National Institute of Economic and Social Research said.