the “realities” of what may actually be,
as opposed to what most currently think is,
an entirely different set of counterintuitive circumstances
Effectiveness through understanding
could be exponential,
as long as most continue to not know
what they could.
The end of all our exploring will be to arrive where we started
and know the place for the first time.
T. S. Eliot
"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,
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 ...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.
...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,”...
...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...
...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.
...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.
...If eurozone governments defaulted on their debts,
the European banks that hold many of their bonds
would risk collapse.
Some analysts say the shock waves of such an event...
The Financial Services Authority this week
issued a public warning...to bolster ...contingency plans
for the break-up of the single currency.
Some economists believe that at worst,
the outright collapse of the euro
could reduce GDP in its member-states by up to half
and trigger mass unemployment."