The UK government knows that it plays into the SNP’s hands if it does anything which could be seen as trying to bully the Scots into voting no to independence. So, it has not said that the Scots would not be able to use sterling after independence but merely stated that this would be an issue for the rest of the UK too.
The Welsh First Minister, though, has now come out and said that he would veto the creation of a sterling zone. This intervention by Carwyn Jones is one that the UK government had been waiting for, and expecting. It gets the message across without risking the accusation of bully-boy tactics or allowing the SNP to attack Westminster.
It is, though, a reminder of how scandalously little attention is being paid to this constitutional debate that this story isn’t leading the news bulletins.