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BRITISH EMBASSIES IN the eurozone are being told to draft plans top help its citizens if the currency collapses amid growing fears over Italy and Spain.
The Telegraph reports today that a senior British government minister has said that the government is working off the basis that the collapse of the euro is just a matter of time.
The paper says that diplomats are being warned to prepare for social unrest in some eurozone countries if that happens similar to the scenes seen in Greece in response to austerity measures being imposed there as a result of its EU-IMF bailout.
This week has seen a German ten-year bond auction described as “disastrous” while fears over the high cost of borrowing in Spain and Italy remain. Yesterday Belgium’s credit rating was down-graded by Standard and Poor’s.
British embassies are being warned to prepare to help tens of thousands of expats in eurozone countries in the event of a financial collapse that would leave them unable to access bank accounts or even withdraw cash, the Telegraph reports.
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luckily. having studied arts i can skin a deer and make a sword from twigs. in prepared . who’s laughing now!! hahaha
Armageddon on the way
The opening act, eh ?!
I always thought at least there’d be a few decent explosions when it came, didn’t think it would be caused by jowly lads with calculators.
It is quiet a responsible thing for the Brits to do.
I would advise everyone to have some cash in hand, sterling or dollars, even some euro’s and food for a week. As banks, atm’s will close down, when the currencies are changing over.
It is not like people are not having sufficient warning on this.
Luckily enough no monies in my bank account, so nothing to loose :)
Yup :-)
Yep, my bank manager keeps telling me that banks are for money not overdraft well I could well have the last laugh there.
It’s just a question of when the euro collapses, before or after Xmas. My view is that it’s going to come to a head over a number of weeks, rather than months. My guess is that it will collapse before Xmas which should make the ‘festive’ season less boring than usual.
I agree with your analysis John, but I think that makes you this years official Grinch.
Well said John
I got a spinning top and an Orange for Christmas, Yipee.
I’d say that there is a good chance you are right John, the weakening of sentiment for the Euro over the last week alone has been incredible.
I will give it six months and euro will be gone. I just hope countries have already printed old currency in preparation. Millions not being able to access bank accounts? no way this could ever happen. . . ?
I’ve heard that the punt has already been printed.
Sure it can. Russia, the nineties
Argentina a few years back
Bring it on
It can happen Gavin, History has not ended, there are always good times, bad times and ultra shitty times. Look at from a historical perspective, we are only the 2nd/3rd generation in hundreds of years in this state, not country, that do not have to worry about being burnt out of their home or shot by her majesty’s finest or being felled by starvation.
Look at 100 years ago, Europe had the British, German, Russian, Austro-Hungarian and Ottoman Empire. The Ottoman empire was founded in 1299, the Brits had the largest, Austro Hungary, was very wealthy, as was Germany’s – an industrial power of its day. If you told anyone in 1911 that their time was over and that most would be gone within 10 years, no one would have believed it.
Banks will close when they change over is happening, it is to prevent disorderly runs on them.
This can happen, the only question now, is what will the EU do to prevent it happening. As of the last few years, they have done diddly squat to prevent this happening.
They also appear to be refusing to do anything about it at this very late stage.
How can they expect people to have trust in this currency, they can’t and they know that.
this just makes 2012 all the more creepy.
Well at least some body is, bet Ireland haven’t even got the punt printed as a contingency.
I heard that they were bust printing away lat week!
Definitely the end game has begun….to even think that Germany woud have even the slightest ign of a problem at bond auctions and you’d have been laughed out the door. When you see Germany hitting a fence you know that this whole farce of a currency is collapsing….yet Sarkozy and Merkle are still committed to it…and are pulling the rest of us down with them. The only hope this has is the ECB stepping in and opening up….and after the disaster of last week on the bond auction they’re begining to realise it too.
“May you live in interesting times”….
The euro will collapse, but we would have to be able to access the bank etc, otherwise the whole world would come to a crash at the same time, not going to happen.
Just because you need access to a bank, never means that you will be able to. Banks were shut in Argentina. Bank noted will need at least to be stamped to show they are “Irish” euro and able to revalue to a lesser value.
They have contingency plans for everything, they probably have a contingency plan for an alien invasion. – its their way.
Ahhh at last, the collapse of society , now we will start see respect for soldiers… Hoo ha ha ha ha haaaaaa
So what’s their plan and what do we do in this crisis scenario- head down to the British Embassy with our passports for some cash or a plane ticket?
Renew passport !
Get second passport ! preferably from a country that isn’t in the euro!
That was Tony B Liar – he became very unpopular for his deception of the public.
It’s for the best, but question I ask will it be punt or will the queen be on the currency? No red/green thumbs as that doesnt answer question please just answers below. I dont know the answer myself but really think it’s 50/50.
No it will be herr merkel on the new punt….The germans already tell us what to do.
If the collapse is disorderly, I presume that there are already plans in place to close down the banks, convert it all to Sterling and re-open.After a few years, then return to the Punt, that is pegged to a basket of currencies.
I have problems with the above scenario, but I also accept the harsh logic in it.
The downside is that the 20% of the populace that are sore that this state is independent will push for us to become a province once more. England hardly gives a crap about anything above its midlands, why some here would think they would give a toss about us, is beyond me.
This is the same country that siad saddam haf weapons of mass dustruction, they get stuff wrong all the time
None of us could see if Saddam had the weapons or not, everyone can see the mess that the Euro is in. It is quiet a reasonable thing for them to do. Same as I hope that the Govt. here, have a plan to deal with a disorderly collapse of the Euro. It’s just common sense, when the odds are in favour of an event happening, you have to make plans just in case, even if it something you passionately hope against.
the conservatives in england have always been very anti europe. I’d take this story with a bucket of salt.
we are all f******d !!! sad but true…
and not in a good way.
Might just do that – its out of date this month!
I’m looking to buy a house at the moment, first time buyer. I have no idea if it’s a good idea with the euro likely going bust. Any ideas/suggestion?
have your say