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But as they'd join the Euro within a couple of years maybe it wouldn't be an issue.
Obviously that depends on whether they can join the EU. Whether the EU wants to give a pass to a country that probably wouldn't meet its fiscal requirements and whether Spain would view it as a worrying precedent given the cries for independence there.
aggi
Leftfield
hurricane_run
I guess there's a medium term physical supply issue if the BoE were massive cunts.
But as they'd join the Euro within a couple of years maybe it wouldn't be an issue. Not having any ability to pressure the BoE is unlikely to matter over that time frame.