Officials within the British Foreign Office are considering how to help thousands of British nationals in Andalucía should the Spanish economy collapse.
Over 1 million Brits live in Spain with the majority being in Andalucía. A large proportion have retired to Spain and are on fixed incomes putting them in a vulnerable position and it is these people that are causing the most concern.
If the crisis in Spain continues to escalate and the banking system collapses there is a fear that Spanish banks may stop clients from withdrawing cash from their own accounts leaving them stranded and without access to money.
Among the Foreign Office’s plans are options to send ships, planes and coaches to help evacuate stricken Brits via Gibraltar and also to hand out emergency cash.
Ratings agency Standard & Poor lowered the credit rating of 10 Spanish banks last week and hinted at the risk of further downgrades.