EU President Tusk: Europe came close to a catastrophe

Donald Tusk, President of the European Council

According to Donald Tusk, the European Union came within 2.5 billion euros of having a catastrophe this week:

July 17, 2015

ATHENS—Europe came close to catastrophe as the talks between Greece and its creditors for a new bailout deal last weekend almost failed, European Council chief Donald Tusk said in an interview with a Greek newspaper published on Friday.After 17 hours, the two sides finally struck a deal in the early hours of Monday morning, staving off financial meltdown in Greece and a likely exit from the euro zone currency bloc.Tusk said German Chancellor Angela Merkel and Greece’s Prime Minister Alexis Tsipras had haggled over how much money from a Greek privatization fund would be earmarked for investment.”During the negotiations, around 0700 in the morning, when Tsipras and Merkel asked for a break, I felt that the risk that they would fail was very close,” Tusk told Kathimerini.

“At that time their difference was only 2.5 billion euros,” he said. “It was at that point that I told them that if the negotiations had ended without a result, I would have been ready to announce publicly that Europe was close to catastrophe for 2.5 billion euros.”

Europe has moved to reopen funding to Greece after the parliament in Athens approved a new bailout program in a fractious vote that left the government without a majority. The European Central Bank increased emergency funding for Greek lenders, although capital controls will have to remain in place to avoid a run on the banks when they reopen on Monday. …

“The most important thing in the negotiations was to help Greece. However, we had to discuss the medium and long-term consequences of a Grexit as a chaotic and unpredictable procedure with political and geopolitical impact,” Tusk said.

“It was a necessary solution to avert the risk of immediate chaos and default but it’s just the first step,” he said. http://www.voanews.com/content/reu-europe-came-close-to-catastrophe-over-greece-says-eu-tusk/2866189.html

July 17, 2015

In the end, the acrimony centered on a relatively minor point: How to allocate funds in the 50 billion euro privatization fund that was one of the key platforms of the bailout agreement. At first Tsipras wanted 25 billion euros of the package to be available for investments, while Merkel insisted on only 10 billion euros for that purpose.

Then came the text message to Tusk, cobbled together by Rutte, a close ally of Merkel and a leader from a nation that also had gone through the pain of a bailout. It proposed a split of 12.5 billion euros for investments and 37.5 billion euros to pay off debt. Leaders agreed that was the only compromise that would allow Europe to stave off disaster. http://www.aol.com/article/2015/07/16/on-the-brink-eu-leaders-clinched-bailout-deal-_-with-an-sms/21210420/?icid=maing-grid7%7Chtmlws-main-bb%7Cdl30%7Csec1_lnk2%26pLid%3D-415472098

The situation, however, between the EU and Greece is not over as many difficulties remain. Notice the following:

July 17, 2015

Greek Prime Minister Alexis Tsipras is widely expected to reshuffle his Cabinet in the next few days, now that Greece has won an increase on the cap for its emergency funding from the European Central Bank.

The reprieve from European creditors followed a vote by Greek lawmakers Thursday approving tough new austerity measures that included tax increases and cuts to pensions.

The vote sparked a revolt by some members of Mr. Tsipras’ own party, as well as protests on the street by Greek citizens who say the nation is already overburdened by cost-cutting measures.

German Chancellor Angela Merkel spoke Friday to the lower house of the German parliament in an attempt to convince lawmakers to back a new Greek bailout deal. Germany – Europe’s wealthiest nation – is one of Greece’s largest creditors, and its lawmakers are expected to approve new talks for Athens. http://www.voanews.com/content/greek-cabinet-reshuffle-expected/2866164.html

July 17, 2015

German lawmakers gave their go ahead on Friday for the euro zone to negotiate a third bailout for Greece, heeding a warning from Chancellor Angela Merkel that the alternative to a deal with Athens was chaos.

The Bundestag lower house of parliament, whose backing is essential for the talks to start, decisively approved the move by 439 votes to 119, with 40 abstentions.

Popular misgivings run deep in Germany, the euro zone country which has already contributed most to Greece’s two bailouts since 2010, about funneling yet more aid to Athens.

Finance Minister Wolfgang Schaeuble has questioned whether a new program will succeed, although the creditors’ offer to Athens includes the conditions for more austerity and economic reform that Berlin had demanded.

But Merkel argued for negotiating a new deal to prevent a Greek exit from the euro – the “Grexit” that might undermine the entire currency union – and said suggestions Athens might temporarily leave the euro wouldn’t work.

“The alternative to this agreement would not be a ‘time-out’ from the euro … but rather predictable chaos,” she told the Bundestag. “We would be grossly negligent, and act irresponsibly, if we didn’t at least attempt this way.” http://www.reuters.com/article/2015/07/17/us-eurozone-greece-germany-idUSKCN0PQ2MU20150717

Thousands of Greeks have protested the deal and some rioted a few days ago (see As predicted, Greeks riot). In time, expect more protests and rioting in Greece as Greece still is not likely to be able to fully comply with the deal and reduce debt. Plus some of the ‘austerity’ provisions are worse than others that the Greeks have protested about in the past. Many Germans are concerned, but have decided that funding Greece for now (and they likely will be asked to do that again) is in Germany’s best interest.

As far as the European Union goes, I expect more serious ‘catastrophes’ before Europe fully rises up to become the final Beast power that Revelation 13 and Daniel 11 tells of. This power will be composed of a mixture of of weak and strong parties that do not adhere particularly well together per Daniel 2:41-43. But they will adhere for a time and the end result will be that the Beast power will arise and surprise many (Revelation 13:1-4).

Expect more problems in Europe, including social unrest in countries other than Greece, before this happens.

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?
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?