THE British Foreign Office is discussing ways to rescue expats stranded in Andalucia if Spain’s banking system collapses.
Officials are considering how they would get thousands of British nationals out of trouble in a worse-case scenario of people not being able to access their funds.
The fear is that if Spain’s economy folds, banks may stop users withdrawing cash from their own bank accounts.
The Foreign Office’s plans include sending ships, planes and coaches to evacuate Brits – perhaps via Gibraltar – and handing out emergency cash loans.
“The nuclear scenario would be having thousands of Brits stranded at the airports in Spain and Portugal with no way to get money from the cash dispenser and no way to get home,” said a Foreign Office official.
Last week Standard & Poor lowered the credit rating of 10 Spanish banks and indicated the risk of a further downgrade.
Of the one million Brits living in Spain – mostly concentrated around Marbella and Malaga – many are in a vulnerable position, having retired to Spain on fixed incomes and purchased property with their savings.