Wednesday, 15 January 2014

Welcome to the Project Fear Twilight Zone!

What a frankly bizarre week! After Scottish Secretary Alistair Carmichael's bizarre Top 20, the #indyrefski saga, HM Treasury's ludicrous "Separation Surcharge" spinning of its climb-down over (wait for it...) the UK's debt being the UK's debt, The Guardian lifting a bizarre piece by Chris Deering from the Daily Mail which, if it was meant to read as a Unionist "love bomb" to Scots, I hope he writes many more like it,  and the woeful Mystic Meg sequence on Monday's Newsnicht Scotland, I thought Project Fear and its supplicant mainstream media may have finally sobered up after the festive season.

However, this morning we have the Daily Record to thank  for keeping the theme of the most bizarre week of the self-styled Project Fear indyref campaign going. I came across this lunacy on seeing a back-slapping session from Severin Carrel of The Guardian congratulating the author, David Clegg on Twitter. 

The cause of this Unionist celebration? Well, here's the article: Alex Salmond admits Scotland could be forced to ditch pound if country votes Yes in September's referendum. The premise for this amazing admission? 

The intrepid author has found out from "top corporate lawyer" Andrew Sleigh, head of corporate and commercial law at law firm Levy & McRae, that "a very unusual clause" had been added to a standard contract back in October.

Let's have a look at this "very unusual clause". 

Among other amendments, Clause 34.3 on page 66 of the contract was amended from 
Manner of Payment 
34.3 All payments under this Agreement shall be made in pounds sterling by [electronic transfer of funds for value on the day in question] to the bank account of the recipient located in the United Kingdom) specified in the relevant invoice, quoting the invoice number against which payment is made. 
to read 
Manner of Payment 
34.3 All invoices under this Agreement shall be raised in Pounds Sterling and the money of account and money of payment in respect of all payments, liabilities and claims (including any accrued rights) under this Agreement at any time shall remain denominated in and be made in Pounds Sterling. All payments under this Agreement shall be made in Pounds Sterling by [electronic transfer of funds for value on the day in question] to the bank account of the recipient (located in the United Kingdom) specified in the relevant invoice, quoting the invoice number against which payment is made.
So instead of just having that payment would be made in £ Sterling, they added in that invoices are to be raised in £ Sterling. This is a major revelation to "top corporate lawyer" Andrew Sleigh of Levy MacRae? It looks like a bog standard clause for a major contract with international players to me.

In any event, how on earth is a Scottish Government contract specifying payment in Sterling somehow an admission that we may not be using Sterling? The article beggars belief! Had the contract been amended to say that all payments were to be made in Euros, then it might be construed as an admission that the Scottish Government may not be using Sterling.

It appears Project Fear and its media buddies will be occupying the Twilight Zone for the foreseeable future.