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Ms Sturgeon has said that the debate will be "one of the most significant in the history" of devolution - and that the people of Scotland would be "right to start thinking about how our national interests are best served" if the UK government ignored the vote. Mr Russell opened the debate by saying that Scotland had voted "clearly and decisively" to remain in the EU in last year's referendum. He said the Holyrood vote would allow MSPs to "say to the UK, to Europe and to the world that we oppose the catastrophic hard Brexit now being pursued by the Tories at Westminster." Mr Russell added: "This vote is more than symbolic. It is a key test of whether Scotland's voice is being listened to, and whether our wishes can be accommodated within the UK process." 'Offered nothing' He insisted that the Scottish government had worked "long and hard" to deliver compromise proposals, which he said would have allowed Scotland to stay in the single market even in the rest of the UK leaves. But he said: "So far, the UK government has not offered a single compromise of its own. In fact, it has offered nothing. Neither formal reaction to our proposals, nor formal rejection of them." But John Lamont of the Scottish Conservatives claimed the Scottish government's default position was to "try to manufacture a grievance out of nothing". He said: "The Scottish government try to portray the Supreme Court ruling and the UK government's bill to trigger Article 50 as an example of Scotland being ignored. "The truth is actually more simple.
Very dangerous! Remember, foreign banks' ability and confidence to lend dollars will likely show up in Euribor rates moving. Those are still ridiculously low. I think if there are any problems, the Fed wouldn't hesitate to open swap lines. The second part of your question is around how the strength of the dollar impacts global capital flows. As I mentioned, a strong dollar is bad for global growth. The Fed know this and have indicated it in their minutes. Right now there is an interest rate differential the other way: US rates are still positive, while European and Japanese are negative, and the UK is at zero so this attracts capital to the US. It's why - as insane as it may seem - when looking at it in isolation, the US bond market is likely to go higher (i.e rates lower). Ultimately there is a reset coming and we don't know when or even how it will play out.
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