P
Paul_C
Breaking Live and Neutral will not remove the hazard that the PME "earth" wire is at a voltage high rnough above ground to create a hazard to anyone touching the ground and the "protective" "earth".
If the potential on network neutral has risen above ground to a hazardous voltage then the "earth" has also to be disconnected as is is as dangerous as the neutral from which it is derived.
My tongue was slightly in my cheek, as obviously the contacts would have to open the incoming neutral ahead of point at which the installation's earth is bonded to it to remove the hazardous potential, as you say. In the U.K, that would mean on the supplier's side of things, obviously.
Personally, I would always install my own earth electrode with PME anyway as an extra safeguard. In other parts of the world, such local electrodes at each service entrance are required.