BoE prepares for euro collapse

David Cameron hosted a meeting with Mervyn King yesterday to prepare the Bank of England for the collapse of the euro and discuss contingency plans.

Measures could include cutting interest rates or launching more QE. A senior official for the Bank said the measures would "again play [their] part in mitigating the impact" of Greece or other countries leaving the single currency, the Telegraph reports. The Prime Minister and Governor of the Bank also met with Lord Turner, the chairman of the FSA, and the Chancellor as fears grew Greece may be forced out of the euro if a coalition government cannot be formed to back austerity measures. In Britain, ministers have already overseen extensive contingency planning to prepare for the poss...