Prepare For Riots In Euro Collapse

The Treasury confirmed earlier this month that contingency planning for a collapse is now under way Photo: Bloomberg

Prepare For Riots In Euro Collapse, Foreign Office Warns -- The Telegraph

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.

Read more ....

My Comment: The impact on the banking system will be profound. It is easy to see a scenario in which bank lending freezes up, bank withdrawals severely regulated (i.e. limited), and massive government bailouts of stressed financial institutions coupled with real and severe government cutbacks in their own budgets taking place. Will there be anger on the street .... the real question is .... how uncontrollable will it become.