EMERGENCY evacuation plans for Brits living in Spain and Portugal are being drawn up amid fears of the euro collapsing

[link to www.mirror.co.uk]


Evacuation plan for Brits in Spain amid warning euro collapse could leave them stranded
by James Lyons, Daily Mirror 19/12/2011

The drastic proposals emerged as a former Security Minister warned expats could be left stranded and destitute by the break-up of the single currency.

Brits who invested their savings in their adopted countries may not be able to withdraw cash and could even lose their homes if banks call in loans, worried ministers are warning.

The Foreign Office is preparing to bring them back from Spain and Portugal if the two countries are forced out of the euro, triggering a banking collapse.

A million Brits live in Spain and 50,000 in neighbouring Portugal – plus a million in the other eurozone countries.

And Baroness Neville-Jones, who only stepped down as a minister in May, called the situation “very, very worrying”.

The Tory peer – who once chaired the Joint Intelligence Committee for MI5, MI6 and other security agencies – said: “Spain is clearly a vulnerable area. If that happens, one of the things that will happen in a crash of that kind, is that the banks would close their doors. You would find that there are people there, including our own citizens, a lot of them, who couldn’t get money out to live on. So you would have a destitution problem.”

A powerful credit rating agency downgraded 10 Spanish banks last week, while another warned over the weekend the debt crisis was threatening to spiral out of control.



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