Europe’s ‘Financial Hurricane About to Hit’?

Europa Woman Riding the Beast Coin

In its latest TW News & Prophecy, the Living Church of God reported:

“EU’s Financial Hurricane Is About to Hit,” read a sobering headline in this week’s Times. This week something critical happened in reaction to leaked information that the EU would allow Greece to redeem some of their bonds at their current financial status–50% less than their original worth. The news scared Italian investors with the notion that the same could happen to them. The result? Italian bonds immediately dropped to 70% and 80% of their value. For a small nation this would be of little concern, but Italy holds an unusually high amount of bonds–third in the world behind the U.S. and Japan. All this translates into the reality that Italy’s financial crisis is much more acute than originally thought.

According to experts, “For if the flow of money out of the Italian bond market accelerates through the summer, the crisis could spin out of control, causing a break-up of the euro as early as September or October, the ‘financial hurricane season’ when serious financial disruptions generally occur” (Times, July 13, 2011). The resulting call is for the rapid formation of a Eurozone-wide financial union, or possibly an EU-wide union that would include nations like Britain who are not part of the Euro. It also sounds like the September-October period may be the deadline.

Students of Bible Prophecy understand that there must eventually be a strong financial union between certain nations and kingdoms in Europe for the creation of the Beast power to occur (Revelation 17:12-13). Just who will be part of this union is a big question that may be answered sooner than many may have anticipated.

Notice something from the news today that also emphasizes the problem, as well as something else that differs from the USA:

Euro crisis could cause global markets to crash

Markets around the world could crash by more than a third if Europe fails to resolve its debt crisis, Deutsche Bank analysts have warned.

Telegraph, London – July 16, 2011 http://www.telegraph.co.uk/finance/economics/8641483/Euro-crisis-could-cause-global-markets-to-crash.html

Italian MPs approve tough budget – BBC 16 July 2011

Unlike the USA that intentionally added a lot of debt throughout the recession and so-called “recovery”, the Europeans have shied away from those types of debt increases, other than those they have felt have been necessary to keep countries out of default (as well as the “usual” budget deficits). Also, while the reforms and cuts may not have gone far enough, various austerity programs have now been approved by most of the so-called PIIGS (Portugal, Ireland, Italy, Greece, and Spain) in Europe. And more may be needed.

The Bible shows that Europe must be restructured (Revelation 17:12-13)–but that particular restructure that Revelation refers to is probably not going to happen for several years. However, to get to that point, there likely will be a variety of changes in what the EU is and how it is supposed to work. While Europe will always have fragility issues per Daniel 2:42-43, it will also be much more unified than it is today–as it would seem to have to be to fulfill certain aspects of Bible prophecy.

Some articles 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”? Using the Tower of Babel and “Beast” images suggests it is not concerned about its role as being part of the future Babylon of Bible prophecy.
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? What MUST happen BEFORE the Great Tribulation?
Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the German Defense Minister one to watch? What do Catholic, Byzantine, and biblical prophecies suggest?
Is Russia the King of the North? Some claim it is. But what does the Bible teach?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
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? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-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?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Is Tony Blair Apocalyptic? The former Prime Minister of the United Kingdom converted to Catholicism shortly after leaving his office and has been active in European affairs. What role might he play?