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Tuesday, 13 December 2011

UK’s Plan B to Aid British Expats in Case of Euro Collapse


Is the euro really collapsing? Does the euro zone near the end? I can’t answer these questions but the Britons allegedly prepare their Plan B to help British expats through the collapse of the common currency, collapsing of the banking system and outbreak of riots. British The Telegraph in an article Prepare for riots in euro collapse, reports that the Foreign Office and the Treasure  confirmed ”earlier this month that contingency planning for a collapse is now under way ” as the  Italian government struggled to borrow and Spain considered seeking an international bail-out.
British ministries seem to consider a euro collapse as an issue of a “matter of time”.

Recent Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for extreme scenarios including rioting and social unrest.
Greece has seen several outbreaks of civil disorder as its government struggles with its huge debts. British officials think similar scenes cannot be ruled out in other nations if the euro collapses.
Diplomats have also been told to prepare to help tens of thousands of British citizens in eurozone countries with the consequences of a financial collapse that would leave them unable to access bank accounts or even withdraw cash.
There is also the potential for social unrest: embassies and consulates have been told to prepare for a flood of inquiries and requests for help if the euro stops working in some countries and other currencies have to be introduced (there are a million Britons in Spain alone). Fortunately, the government can keep liquidity flowing at home in an emergency, thanks to the UK retaining its own currency. source: Telegraph
Great Britain is not a member of the euro zone.

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