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| Europe |
| Prepare for riots in euro collapse, Foreign Office warns |
| 2011-11-26 |
| British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain. As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible. Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis. Oh c'mon now: surely socialists don't riot just because things don't go their way... The Treasury confirmed earlier this month that contingency planning for a collapse is now under way. A senior minister has now revealed the extent of the Government's concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time. "It's in our interests that they keep playing for time because that gives us more time to prepare," the minister told the Daily Telegraph. |
| Posted by:tipper |
| #3 What makes this extra troubling is that a group of major banks are now forming contingency plans openly, explaining that "the collapse of the Euro has moved from a possibility to a probability." If it was just the FO or the banks, it wouldn't matter so much, but both of them, and right when Portugal, Hungary and Belgium have been downgraded should totally unnerve the markets. And then Germany had a bond issue failure, with 1/3rd left unsold. They are the most secure bond on the continent. |
| Posted by: Anonymoose 2011-11-26 17:39 |
| #2 I think a capsule summary of the European defensive policy is to hold committee hearings until the situation has become critical, then use nuclear weapons. Pretty much the same thing with economics. |
| Posted by: Anonymoose 2011-11-26 17:28 |
| #1 Playing for time That pretty much sums up everyones strategy. |
| Posted by: phil_b 2011-11-26 16:28 |