THE British government is drawing up plans for emergency immigration controls to curb an influx of Greeks and other European Union residents if the euro collapses.

The Home Secretary, Theresa May, said ''work is ongoing'' to restrict European immigration in the event of a financial collapse.

The British Home Secretary Theresa May said "work is ongoing" to restrict European immigration in the event of a financial collapse. Credit:Getty Images

People from throughout the EU, with the exception of new member countries such as Romania and Bulgaria, are able to work anywhere in the single market.

However, there are growing concerns that if Greece was forced to leave the euro, it would effectively go bankrupt and millions could lose their jobs and consider looking for work abroad.