The markets are calling the potential Scottish bonds 'kilts,' a play on 'gilts', which is used for British bonds. The last time Scotland went to the capital markets, it didn’t work out too well.
EDINBURGH—The last time Scotland went to the capital markets, it didn’t work out too well. It was 1695. Nearly 1,500 merchants and aristocrats bet around a quarter of the country’s wealth establishing a colony on a mosquito-infested ribbon of land separat... See more
