The word “riots” catches the attention of people with money. They fear social breakdown.
We in the West assume that there will not be riots. But in Greece, citizens know better.
There were major riots in London earlier this year.
In the United States, “flash mobs” spread across the country last summer. They were not reported much in the mainstream media because it is politically incorrect to say “black teenagers” when discussing mob violence. So, the incidents were not reported widely. If you search Google for “flash mobs,” you get lots of happy-face stories about singing groups. You must search for “flash mobs” and “violent” to get the real story. I did. Click here.
If banks went under, would there be rioting in Europe? Probably. What about in the USA? Would Occupy Wall Street remain peaceful?
If you think “It can’t happen here,” think again.
In England, the Foreign Service is preparing British citizens living on the Continent for rioting if the European Union breaks up or the euro disintegrates. This was reported in the London Telegraph.
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.
A senior minister has now revealed the extent of the Government’s concern, saying that 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,” the minister told the Daily Telegraph.
Recent Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for extreme scenarios including rioting and social unrest.
This seems difficult to believe. I don’t mean rioting. That is easy to believe. I mean preparation by a government agency for what now looks inevitable.
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 that would leave them unable to access bank accounts or even withdraw cash.
Today, the Prime Minister of Great Britain said he would not consent to enter the new fiscal union that the summit proposes. Sweden, Hungary, and the Czech Republic also said no. The deal is clearly unconstitutional. The nay-sayers were wise not to capitulate. So, the Eurozone is at risk.
This leads us back to the question of rioting.
The EU treaties that created the euro and set its membership rules contain no provision for members to leave, meaning any break-up would be disorderly and potentially chaotic.
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 would risk the collapse of the entire financial system, leaving banks unable to return money to retail depositors and destroying companies dependent on bank credit.
Americans don’t care. “That’s over there. It will not affect me.” They forget that America exports to Europe. Those exports could fall dramatically. There could be a domino effect.
Read the entire article.