The situation in Europe appears dire. This collapse will affect everyone globally, and when the currency crashes, expect the union to go with it. The dissolution is unfortunately deserved, because there was never any good reason for a European Union in the first place or for flooding Europe with immigrants, all of which have been done by fiat and against the will of the people.
Pat Condell weighs in below. He’s very upset, like a wise elder who can see what is coming and is afraid for his loved ones, including his beloved homeland.
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…
Many statements from senior eurozone policymakers treat the continuation of the euro and continuation of the European Union as much the same thing. Some of those commenting upon these events dispute that. They point out that the Single Market was there before the euro. They imagine that schemes in which Germany and few other countries form an “Eastern euro” whilst France leads a “Western euro” would be compatible with the continuation of the Single Market.
They are wrong….
The EU is most unlikely to continue without the euro. Sudden and disorderly collapse of the EU would induce a massive further phase of recession…. it would certainly involve a recession on a scale beyond modern experience or comprehension in a Western democracy.
Let’s not go there.