Greece says it will default, stock markets drop, Puerto Rico also may default

Part of Athens (Photo By Joyce Thiel)

IMF and Greece continue to negotiate, though both sides are talking tough:

Dow off 350 on Greece news; worst point drop since ’13

June 29, 2015

U.S. markets got hammered Monday as the Greek debt crisis deepened, with investors pushing the Dow down 350 points — and back in the red for 2015 — after steeper sell-offs in Asia and Europe.

It’s not surprising that stocks fell sharply in Asia and Europe to kick off the trading week as Greece shuttered its banks after debt talks broke down and imposed restrictions on cash withdrawals. Wall Street’s reaction was less of a given, however. http://www.usatoday.com/story/money/markets/2015/06/29/stocks-monday/29463061/

June 29, 2015

Greece says it will not be able to make a $1.8 billion loan payment due Tuesday to the International Monetary Fund (IMF), with Athens facing the expiration of its international bailout and without enough money to pay the debt.

World markets tumbled Monday with the spiraling Greek debt crisis, even as Athens shut its banks and sharply curtailed withdrawals at sidewalk cash machines.

The major U.S. indexes fell 2 percent or more by the close. London’s FTSE slid nearly 2 percent, while German and French key indexes lost even more. Asian stock markets also fell, with Japan’s Nikkei 225 index off almost 2.9 percent.

“There had been some complacency in global markets around a possible Greek exit from the eurozone, but that is clearly being shaken off at the moment. So I think that’ll continue to dominate markets this week,” said analyst Erwin Sanft at Macquarie Securities in Hong Kong. …

The Athens stock exchange is closed for six days as Greece faced the end Tuesday of its bailout agreement with its international lenders. It is seeking a new $8 billion loan segment, but has balked at imposing new austerity measures demanded by its creditors.

The Standard & Poor’s financial services company cut Greece’s credit rating further into “junk” status and said there was a 50 percent chance the country would become the first to exit the 19-nation euro currency bloc in its 16-year history.

Greek bonds plummeted Monday, with interest rates surging more than 12 percentage points to 33 percent, showing investors had little confidence in Greece’s financial stability.

Next Sunday’s referendum

Greece has scheduled a referendum next Sunday on whether to accept the lenders’ demands for more austerity measures in exchange for new loans. Both European Union chief executive Jean-Claude Juncker and British Prime Minister David Cameron warned that a “no” vote would mean that Greece wants to divorce itself politically from Europe.

“A ‘no’ would mean, regardless of the question posed, that Greece had said ‘no’ to Europe,” Juncker said in Brussels. Cameron said he would “find it hard to see” how a negative vote “is consistent with staying in the euro.”

Greece’s radical leftist Prime Minister Alexis Tsipras broke off negotiations with the creditors over the weekend and there was no sign of new talks. He called on his countrymen to vote ‘no’ in the referendum.

European leaders said they are open to further discussions as the bailout deadline approaches.

Spanish Prime Minister Mariano Rajoy said his government “will try to find a happy outcome because the opposite will be very bad. But Greece must bring something to the table and know that besides demanding European solidarity she must meet her obligations like other nations which received a bailout.”

Bank depositors lined up outside Athens banks to tap into their accounts at streetside ATMs, but they were limited to 60 euro ($68) withdrawals a day this week. http://www.voanews.com/content/world-market-tumble-amid-greek-financial-crisis/2841512.html

June 29, 2015

U.S. stock markets fell sharply on Monday after a global sell-off as investors grew increasingly skittish over the prospects of twin debt defaults by Greece and Puerto Rico.

Greece appeared likely to miss a critical debt payment to the International Monetary Fund on Tuesday as negotiations over unlocking additional aid from its European creditors broke down over the weekend. Banks have shut down for the week, and citizens can withdraw only 60 euros ($67) a day from their accounts. Meanwhile, in Puerto Rico, the island’s governor is slated to announce later Monday that it cannot pay back more than $70 billion in debt.

The pair of debt crises exposed a new fragility in the financial system and to many observers came suddenly after a period of tranquility. http://www.washingtonpost.com/business/economy/global-markets-fall-as-greece-closes-banks-and-twin-defaults-loom/2015/06/29/c1a48d72-1e76-11e5-aeb9-a411a84c9d55_story.html

The world financial situation is not truly tranquil, though it appears that way to many. The USA will likely do something to try to reduce some of the issues associated with Puerto Rico.

The European Union does not want Greece to default nor turn possibly turn to Russia for financial assistance. Europe does not want Greece to leave the Eurozone. This situation is tough for the Germans and the Greeks. The Germans feel that they have lent Greece money in good faith and that they are not being paid back as agreed, but they do not want Greece to default and not pay the rest back.

Yet, the leaders that are currently in charge of Greece seem to feel that the EU has left them little choice but to either default or turn to possibly Russia or some other nation outside the European Union. The vote that is scheduled in Greece will likely later be used to blame the people of Greece, no matter which way they vote.

Look for more calls for financial controls and possible currency changes.

Of course, if the EU can afford to bail out Greece (and other struggling nations) that is better for the Euro as a single currency.

Ultimately, as I have written for years, I expect more civil unrest in Greece and other parts of Europe. As well as in other parts of the world.

In other ‘financial’ news, US President Barack Obama signed a bill giving him more negotiating power for international trade agreements.

June 29, 2015

U.S. President Barack Obama on Monday signed into law legislation that gives him “fast-track” power to push ahead on a Pacific Rim trade deal that has been the subject of intense debate in Congress and across the nation. …

The package also included aid for workers who lose their jobs as a result of trade, and an Africa trade preferences bill.

Obama wants the trade deal to be a central part of his administration’s foreign policy pivot to Asia and to help serve as a counterweight to the economic might of China. He also hopes to complete an ambitious trade deal with the European Union. …

Republicans, who traditionally support free trade deals, backed Obama and helped get the legislation through Congress. But they faced obstacles from skeptical Democrats, who worry the trade deal will hurt American jobs, and were pressured by unions to vote against the bills. http://www.reuters.com/article/2015/06/29/us-usa-trade-obama-idUSKCN0P92GP20150629

The Democrats voted previously against this trade negotiating bill. But as politics works, sometimes they will keep calling for new voting until the outcome that some want is accomplished. And this was one of those times.

I will add here that the ‘pivot’ of the USA towards Asia will not be without cost. Ultimately, this will be a factor in getting Europe into a position that it can rise up against, and defeat the USA (Daniel 11:39).

If some think that the problems in Greece prevent that, they should think again–the Bible is clear that the final European Beast power will be a mixture of of weak and strong parties that do not adhere particularly well together per Daniel 2:41-43. We will see how the crisis with Greece will turn out, but the end result will be that the Beast power will arise and surprise many (Revelation 13:1-4).

Some items of possibly related interest may include:

Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous.
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
WTO/TTIP and the Babylonian Beast Will international trade agreements like WTO/TTIP/CETA lead to the fulfillment of end time prophecies concerning the Babylonian Beast power that the Book of Revelation warns against? What does the Bible teach? A related video would be WTO Trade Deal and the Rise of the European Beast Power.
Is Russia the King of the North? Some claim it is. But what does the Bible teach? Here is a link to a video, also titled Is Russia the King of the North?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
Germany’s Assyrian Roots Throughout History Are the Germanic peoples descended from Asshur of the Bible? Have there been real Christians in Germanic history? What about the “Holy Roman Empire”? There is also a You-Tube video sermon on this titled Germany’s Biblical Origins.
Germany in Biblical and Catholic Prophecy Does Assyria in the Bible equate to an end time power inhabiting the area of the old Roman Empire? What does prophecy say Germany will do and what does it say will happen to most of the German people? Here is a link to a related sermon titled Germany in Bible Prophecy. Here is a link to a video Is the USA Pushing Germany to Start WWIII?
Mexico, Central America, South America, Brazil, and the Caribbean in Prophecy [Español: México, América central, Suramérica, Brasil y el Caribe en la profecía] [Português: México, América Central, Ámérica do Sul, e Brasil na profecia] What will happen to those of Latin America? Will they have prosperity? Will they cooperate with Europe? Will they suffer in the future? What role might the various Caribbean nations/territories play?
Hillary Clinton, Prophecy, and the Destruction of the United States This is a 188 page book for people truly interested in prophecies related to Hillary Clinton and the United States, including learning about many that have already been fulfilled and those that will be fulfilled in the future. It also discusses Republicans. The physical book can be purchased at Amazon from the following link: Hillary Clinton, Prophecy, and the Destruction of the United States: Is Hillary Clinton Fulfilling Biblical, Islamic Catholic, Hopi, and other America-Related Prophecies? $11.99.
Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition. This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Hillary Clinton, Prophecy, and the Destruction of the United States-Amazon Kindle edition.
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to for your free Kindle reader and then go to Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?