The drastic proposals emerged as a former Security Minister warned expats could be left stranded and destitute by the break-up of the single currency.
Brits who invested their savings in their adopted countries may not be able to withdraw cash and could even lose their homes if banks call in loans, worried ministers are warning.
The Foreign Office is preparing to bring them back from Spain and Portugal if the two countries are forced out of the euro, triggering a banking collapse.
A million Brits live in Spain and 50,000 in neighbouring Portugal – plus a million in the other eurozone countries.
And Baroness Neville-Jones, who only stepped down as a minister in May, called the situation “very, very worrying”.