British Government Warns Embassies to Prepare for Collapse of Euro
The economic situation in Europe is so unstable that the Britain is warning embassies to prepare for the collapse of the euro and more unrest.
The American Thinker reported:
With the situation in the European Union growing more unstable by the day the British government is making preparations to assist its citizens in the event of monetary collapse and the accompanying social unrest.
The UK Telegraph reports:
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 was a rough week, to say the least, for the Europeans.
The New York Times reported:
On Friday, Standard & Poor’s downgraded Belgium’s credit standing to AA from AA+, saying it might not be able to cut its towering debt load any time soon. Ratings agencies this week cautioned that France could lose its AAA rating if the crisis grew. On Thursday, agencies lowered the ratings of Portugal and Hungary to junk.