November 26, 2011 – LONDON – 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. 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. Fuelling the fears of financial markets for the euro, reports in Madrid yesterday suggested that the new Popular Party government could seek a bail-out from either the European Union rescue fund or the International Monetary Fund. 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. -Telegraph
last singns of planet earth earthquake,volcanoes activity,tornadoes,hurrcane,sanstorm,hailstorm,floods,Landslide,sinkhole,mistery,astronomy,fireball
Subscribe to:
Post Comments (Atom)
Popular Posts
-
A Russian aircraft company MetroJet (formerly known as Kolavia and Kogalymavia) carrying 217 passengers (including 17 children) and seven...
-
GeoengineeringWatch.org
-
The planet Mars is also called the red planet because of the abundance of iron oxide present in its surface rocks. And 'the colo...
-
Elon Musk, the South African billionaire co-founder of PayPal and CEO of Tesla Motors and SpaceX, wants to drop a nuclear bomb on Ma...
-
December 7, 2012 At 08:18 UTC and 09:18 Italian 'been an earthquake measuring 7.3 on the richter scale in off the coast of Honshu in...
-
red alert in Japan for the arrival of super typhoon named Neoguri . More of 500 000 people living in the vicinity' of nuclear...
-
May 24, 2013 – RUSSIA, FAR EAST - The remote volcano in the northern Kuriles is probably in eruption, the latest SVERT report and satell...
-
Residents in Beckham County near Sayre say a massive sinkhole suddenly appeared overnight. They say it's so big a small house can fit ...
-
The National Weather Service has confirmed that a tornado struck the locality 'of Century, the state of Florida (USA),
-
A devastating Cyclone "Cleopatra" struck Mediterranean island of Sardinia, Italy, on November 18, 2013, flooding towns and vil...
No comments:
Post a Comment