Prepare for riots in euro collapse, Foreign Office warns

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Egg
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Prepare for riots in euro collapse, Foreign Office warns

Post by Egg » Mon Nov 28, 2011 2:00 pm

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.

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.



There are also growing fears for Italy, whose new government was forced to pay record interest rates on new bonds issued yesterday.

The yield on new six-month loans was 6.5 per cent, nearly double last month’s rate. And the yield on outstanding two-year loans was 7.8 per cent, well above the level considered unsustainable.

Italy’s new government will have to sell more than EURO 30 billion of new bonds by the end of January to refinance its debts. Analysts say there is no guarantee that investors will buy all of those bonds, which could force Italy to default.

The Italian government yesterday said that in talks with German Chancellor Angela Merkel and French President Nicolas Sarkozy, Prime Minister Mario Monti had agreed that an Italian collapse “would inevitably be the end of the euro.”

http://www.telegraph.co.uk/news/politic ... warns.html


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Dr Exile
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by Dr Exile » Mon Nov 28, 2011 6:55 pm

The European Union was the biggest mistake since that idiot Vortigern let the stinking Germans "swim across the Rio Grand" into Briton.
Credo quia absurdum.

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Egg
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by Egg » Mon Nov 28, 2011 6:57 pm

I lived in London from 1994-1995. There was talk about the EU then. Most Euros I knew - Italians, British, French, Germans.... were against it. The Italians didn't want to give up the Lire as it was part of their culture.


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Dr Exile
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by Dr Exile » Mon Nov 28, 2011 7:04 pm

From the start it was loose loose for the citizens of each country. Rich folks from rich countries were allowed to by real estate in poorer countries, driving up prices, and pricing locals out of their homes. Ireland had the richest fishing grounds in Europe by strict regulation, but lost their fish to factory ships of asshats like the Portuguese. Local foods banned. F@#k central government. The South could have warned the poor schmucks years ago not to do this to themselves.
Credo quia absurdum.

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Egg
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by Egg » Mon Nov 28, 2011 7:10 pm

OH!!! The rich were the ones to profit from this? Shocking. Like I said, most peopel I knew over there were against it. And, at that point, it was really just the currency they were talking about. Makes sense that a small percentage of the population with power and influence would make it a realitry.


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lkwalker
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by lkwalker » Mon Nov 28, 2011 7:26 pm

ya gotta admit that 2 euro coin is pretty cool.
"If you don't think to good, don't think too much." Yogi

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Egg
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by Egg » Mon Nov 28, 2011 7:27 pm

Yeah, but I liked the franc. Good coin that.


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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by lkwalker » Mon Nov 28, 2011 7:30 pm

those bums know how to make a decent coin.
"If you don't think to good, don't think too much." Yogi

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Egg
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by Egg » Mon Nov 28, 2011 7:34 pm

They soitenly do.

And how about that pound coin and the new two pound coin! Good coins.


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Pigeon
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Re: Prepare for riots in euro collapse, Foreign Office warns

Post by Pigeon » Mon Nov 28, 2011 7:49 pm

There is a thread here about the Chinese taking scrap euros, putting them back together, and using them near face value. Guess they didn't think the scraping process all the way through.

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