Eurogeddon Approaches

[Garpal Gumnut]

There is a rather good summary of the Euro's problems in two articles in the Telegraph UK, and how it may pan out for the countries in the eurozone, should Italy or Spain default.

http://www.telegraph.co.uk/finance/...h-of-a-currency-as-eurogeddon-approaches.html

and

http://www.telegraph.co.uk/news/pol...ts-in-euro-collapse-Foreign-Office-warns.html

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.

It does not sound too good.

gg

 

[LifeChoices]

I got a bit of a laugh out of this today:



Telling it how it is.