Re: So, to sum up. . .
Well, why don’t we test your opinion that this would be a default by the UK against.....legal advice controlling tens of thousands of contracts for several trillion pounds?
It’s not hard to check. Credit Default Swaps exist. If the UK were to be in default, they would trigger. Every Single Financial Institution has taken legal advice as to whether it would constitute default, and trigger payment of CDS’s.
It wouldn’t. End of.
Please stop making stuff up.