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New independence row

ALEX Salmond last night admitted an independent Scotland could not bail itself out in any future financial crisis but would have to rely on London.

Salmond: Scotland's lender of last resort would be the Bank of England.
Salmond: Scotland's lender of last resort would be the Bank of England.

After a keynote speech in the capital, the First Minister, was challenged by Lord Myners, the former Labour City Minister, on the issue of a currency between England and Scotland.

Mr Salmond replied he envisaged in an independent Scotland the "lender of last resort would be the Bank of England".