David Cameron, the British Premier has led a meeting to prepare for a possible Greek exit from the Eurozone.
Present were the head of the Treasury, Director of Financial Stability and the International head of the Bank of England. Also there was the executive director for international banks supervision at the Prudential Regulation Authority,The Chancellor did not attend as he was on his way to a G20 meeting in Istanbul..
While there is still a feeling that a compromise over Greek debts to be found, the UK is preparing for the worst.
According to the BBC's Robert Peston, their economics editor, Cameron was told that Greeks would see their savings wiped out, inflation rising alarmingly and massive devaluation.
There would be further problems from the disparity between the Euro - currency debt was issued in and whatever new currency Greece adopts.
Alan Greenspan, the former chairman of the US Federal Reserve, has said Greece's leaving the Euro was "only a matter of time," but others, including those attending the high level meeting in London, believe a compromise can still be found.
But having a contingency plan is often a wise move.
http://www.neurope.eu/article/uk-prepares-grexit