Our nation's debt is literally indenturing our children to our international debt holders, but most Americans don't care because they are more concerned about the latest saga involving Snooki on Jersey Shore rather than what really matters, our country’s future.

Tuesday, December 20, 2011

If Spain's banks collapse, UK may send in Navy to save ex-pats | Euro debt crisis News | The Week UK

I doubt the U.S. would care for its citizens if they get trapped in a country because of a banking crisis. A war yes but not a banking crisis.

THE GOVERNMENT is drawing up emergency plans to evacuate British ex-pats from Spain and Portugal in the event that the Iberian countries' banking systems collapse, raising the prospect of Royal Navy ships bearing down on the Costa del Sol to rescue well-tanned retirees.

Ships, planes and coaches could be sent to bring home Britons who find themselves unable to withdraw money to pay for basic needs or travel home because of a Spanish or Portuguese banking crisis, while diplomats scramble to get special treatment for ex-pats from local banks.

According to The Sunday Times, the Foreign Office and the Treasury have both been drawing up contingency plans after credit rating agency Standard & Poor's last week downgraded the status of ten Spanish banks.
The agency put some Spanish banks, including Banco Popular, on "credit watch with negative implications" suggesting it expects to lower their status further still. Another agency, Fitch, warned yesterday that a solution to the euro crisis was probably "beyond reach".



Read more: If Spain's banks collapse, UK may send in Navy to save ex-pats | Euro debt crisis News | The Week UK

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