Germany Guarantees Bank Deposits
Angela Merkel, Chancellor of Germany Since November 2005
Continuing its historic trend of taking advantage of opportunities for world leadership, in the past three weeks German leaders, such as Angela Merkel have taken steps to assure the world that the German economic system is in better shape than that of the USA.
In its latest move, Germany has announced that it now will guarantee bank deposits, which should make Germans and foreign investors much less likely to continue to invest in the German banks.
But not all is rosy within Germany as it apparently needed further motivation to do so:
BERLIN – Germany announced Sunday that it would guarantee all private bank accounts, joining Ireland and Greece in taking drastic independent action to ward off financial crisis in Europe’s biggest economy.
Finance Ministry spokesman Torsten Albig said the unlimited guarantee covered some euro568 billion ($785 billion) in savings and checking accounts as well as time deposits, or CDs.
The announcement came as business leaders and lawmakers met in the capital for feverish talks to keep an embattled real-estate giant afloat.
Hypo Real Estate AG had been banking on a euro35 billion ($48.42 billion) bailout package financed by the government and private banks, but the deal fell apart on Saturday evening.
Chancellor Angela Merkel vowed that she would not let the failure of any company disrupt the German economy.
“We will not allow the distress of one financial institution to distress the entire system,” she told reporters while talks between government and business leaders continued in the capital…
European states have pumped billions of euros into banks to keep them afloat over the last week, trying to assure savers their money was safe and avert a panic that has frozen lending across the world.
Banks from Iceland to Germany to the Nordic nations have felt the sting of the meltdown since Lehman Brothers Holdings Inc. filed for bankruptcy last month. http://www.msnbc.msn.com/id/27035328/
This move by Germany (as well as similar moves made by Ireland and others recently) should also reduce the risk of panic among those in the EU.
Interestingly, Angela Merkel was awarded the Charlemagne prize several months back (see Angela Merkel and the “Holy Roman Empire”) for her work to create a more integrated European superstate.
Of course, the Bible does prophecy that a beast power based in Europe will become THE major economic and military power in the world for a short while–and this apparently seems to be set to happen sometime next decade.
Several articles of possibly related interest may include:
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies 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?
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”? What is ahead for Europe?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
End of Mayan Calendar 2012–Might 2012 Mean Something? There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans (the Hindus may have some predictions for the next decade as well). Do these Mayan/Hindu/Hopi prophecies have any value? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? When does the six thousand years of human rule end?
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