# Whitehall Plans Euro Evacuation?



## Waterdog (Oct 24, 2011)

This thread was started on the Spanish site earlier today but Portugal was also quoted in the original article – any thoughts?


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## rifleman (Jun 24, 2011)

When things go wrong and our citizens need assistance both civil servants and ministers are critisised if they are not prepared.
Consequently government prepares plans for a whole variety of possible future scenarios.
Given that the Euro may well collapse and that may lead to our citizens abroad being put at risk, it is obviously sensible to plan for that possibility.


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## Waterdog (Oct 24, 2011)

Clearly contingency planning is all part of good governance. However, to leak/publish this activity in this situation could cause amongst other things, a run on the banks & is irresponsible.

The best response is to see it for what it is, scare mongering & disregard.

An interesting aside, after posting last night, I had a look at the report in the Daily Mail On Line (comments section) & it was enlightening to see how expats were vilified by those who have neither the imagination or courage to take charge of their own lives. Far from spongers, many expats still pay into the UK tax system (which, amongst others, supports spongers) whilst taking all of their problems elsewhere.

Is this envy peculiar to the UK or do expats from other countries also experience it?


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## rifleman (Jun 24, 2011)

The other thread is about an article in the Sunday times. Nothing there about leaks.


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## jojo (Sep 20, 2007)

IMO the media at its worst!! Its this sort of scaremongering that can cause the problem in the end! Northern Rock is a classic example - that could have been sorted if it hadnt been for the media and the ensuing mass hysteria of everyone rushing to withdraw their money the day after the article. Lets hope that people see this latest "panic" for what it is""

Jo xxx


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## Surfin USA (Nov 11, 2011)

Well said Waterdog.

Envy? In the US, success & get up and go is admired (the Irish among others, taught the rest of us that), unfortunately we tend to be very hard on the less successful, hence expressions like, Bum, Down & Out originated in the States


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## Waterdog (Oct 24, 2011)

Didn’t see the Times but other articles inferred a leaked exercise.

The Government doesn’t normally publish contingency plans for fear of causing needless panic – never a good thing.


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## robc (Jul 17, 2008)

jojo said:


> IMO the media at its worst!! Its this sort of scaremongering that can cause the problem in the end! Northern Rock is a classic example - that could have been sorted if it hadnt been for the media and the ensuing mass hysteria of everyone rushing to withdraw their money the day after the article. Lets hope that people see this latest "panic" for what it is""
> 
> Jo xxx


I take issue with the your summation that Northern Rock could have been sorted.
As someone who was involved with it, given the massive structural problems it had together with the dreadful collapse of funding channels, there was no chance of it surviving. None. Rien. Zilch.

The media reported, with varying degrees of accuracy, the situation, it was up to the individual citizens to arrange the ensuing panic.

It is worth remembering a most salient point.

There was outcry at Building Societies who thwarted conversion from mutuality to plc, so Abbey, Halifax, B & B, Northern Rock etc. etc were forced to convert.

Where are they now? Busted or taken over, 

And where are the carpet baggers, who were so keen to have their windfalls?.............bleating about how all those nasty PLC's who they themselves helped to create, treat them unfairly.

"as ye sow so shall ye reap"

Rob


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## rifleman (Jun 24, 2011)

Waterdog said:


> Didn’t see the Times but other articles inferred a leaked exercise.
> 
> The Government doesn’t normally publish contingency plans for fear of causing needless panic – never a good thing.


So no evidence of a leak then? Newspapers write speculative stories like this all the time, it doesn't take a rocket scientist to realise that the euro might go south and that might have implications for HM Gov, hence they probably have contingency plans.

How on earth can you prevent newspapers from publishing this sort of stuff, without impeding them from warning us about future risks?


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## nandnjudge2 (Oct 5, 2008)

Where has all the money gone ?

Give me one good reason why Portuguese banks should buy government bonds after reading below extracted from the BBC web site 

BBC News - Reason to be cheerful from the ECB

I suspect we will never find out where most of the money went, it would be nice to think that some of it was being used to lend to business to increase liquidity. Where is it going ? 489 Billion Euros is not chicken feed 

Quote :

The sheer volume of lending today, 489bn euros ($638bn; £407bn) to a total of 500 banks, may also tell us quite how tight the funding situation had become, though the generous terms of the facility surely made it attractive to healthy banks as well

This is a slippery distinction in the current circumstances. A better defence of the ECB's position right now would be that Spanish or Italian banks, which are being penalised in the money markets for holding too much "toxic" government debt, are unlikely to fall over themselves to buy more.

So, we might not see banks queuing up to lend their ECB cash to governments. Indeed, given the amount of uncertainty around, we might not see them lending it to anyone at all.


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## tonycharlton (Jul 13, 2011)

*Brit evacuation*

In view of leak do you think that this will put expats buying in Portugal at present? I am coming out on 21st Jan to view and buy a property. Should I hold off for a bit or just go for it?

I don't think that there will be a mass evacuation - and for what reason, food, housing etc are still available. There is no sign of a mass civil uprising. 

Tony Charlton


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## silvers (Sep 22, 2008)

The Portuguese don't do uprisings. Even the end of the Salazar period was without much fuss. If Portugal drops out of the Euro, which I think is inevitable, but what do I know? But if they do, then the replacement currency could be massively weaker than the Pound, making houses cheaper for Brits.


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## canoeman (Mar 3, 2011)

With current market more chance of negotiating, plus exchange rate is good so you get more for your £.


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## tonycharlton (Jul 13, 2011)

*euro problems*



silvers said:


> The Portuguese don't do uprisings. Even the end of the Salazar period was without much fuss. If Portugal drops out of the Euro, which I think is inevitable, but what do I know? But if they do, then the replacement currency could be massively weaker than the Pound, making houses cheaper for Brits.


I agree with you, I am sure that the Euro will drop out of the financial scene sooner than later. I am a financial management consultant here in Botswana advising companies on feasibility of their proposed projects. I think that this is a good time to buy and perhaps tighten your belt until the dust settles. I think property in Portugal will become cheaper. I will definitely see you later on this month and discuss this more over a bottle of wine or two.


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## Tiago (Apr 24, 2011)

*Hi*



tonycharlton said:


> In view of leak do you think that this will put expats buying in Portugal at present? I am coming out on 21st Jan to view and buy a property. Should I hold off for a bit or just go for it?
> 
> I don't think that there will be a mass evacuation - and for what reason, food, housing etc are still available. There is no sign of a mass civil uprising.
> 
> Tony Charlton



Hi Tony,

I would hold off for now, unless you're buying property for the next 20 or 30 years. They say you can't predict the future but there are 40 million houses in Portugal for 10 million citizens. The government is broken, the euro is toast, unemployment is at record highs, the banks aren't in very good shape... 

To me, houses will get cheaper in the future. But I'm no estate agent so what do I know? 

Good luck with your choice.

Tiago


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## robc (Jul 17, 2008)

Tiago said:


> Hi Tony,
> 
> I would hold off for now, unless you're buying property for the next 20 or 30 years. They say you can't predict the future but there are 40 million houses in Portugal for 10 million citizens. The government is broken, the euro is toast, unemployment is at record highs, the banks aren't in very good shape...
> 
> ...


40 Million Houses...................are you sure, when I have travelled through I don't think I ever encountered a situation where there are 4 houses for every citizen, and if there were then I really think that Portugal would be at the forefront of the EU, a lá Germany.

Rob


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## Guest (Jan 6, 2012)

This report was printed in the Sunday Telegraph a few weeks ago. The FCO have denied it though.

Quite honestly, it's absolute rubbish. How could they evacuate all the Brits living in the Iberian Peninsular. It's not physically possible to do it. The report suggested ships, coaches, trains, it is just logistically not possible. It is scaremongering to even suggest it.

If Brits are in a bad way over here, then they are in for a shock when they get back to Britain. I live a good life in Spain, but I doubt I could afford to live the same in the UK. If people want to leave, best of luck to them, but I'm staying here, this is now my home.


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## canoeman (Mar 3, 2011)

Tiago said:


> Hi Tony,
> 
> I would hold off for now, unless you're buying property for the next 20 or 30 years. They say you can't predict the future but there are 40 million houses in Portugal for 10 million citizens. The government is broken, the euro is toast, unemployment is at record highs, the banks aren't in very good shape...
> 
> ...


Sounds very like UK except for houses v citizens, if you have the money then the next couple of years should be a very good time to purchase. Exchange rate creeping up as well.


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## siobhanwf (Mar 20, 2009)

XE.COM saying €1.21355 for a £ today


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## tonycharlton (Jul 13, 2011)

*Euro problems*



canoeman said:


> Sounds very like UK except for houses v citizens, if you have the money then the next couple of years should be a very good time to purchase. Exchange rate creeping up as well.


Thanks guys
I am in complete agreement with all your comments. I think now is the time to buy for the future. Britain was very wrong to issue or leak a very scaring report.
I am planning on coming to Portugal to buy a house later this month and settle there for the rest of my mortal coil.

Rgds
Tony Charlton


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