Germany Angry Over Debt Crisis

Steven LeBlanc

What is taking place in Europe this week is very important: The EU (European Union) countries, taken together, still constitute the world’s largest economy. If the European economies slide into a depression, America will see higher unemployment numbers. The economy of China is slowing, Europe is slowing: these developments have frightened the world financial markets.

The pivotal reason that the Europeans are stumbling through the crisis with little progress is that the European Union remains divided on how to address the massive debt issues. Some countries, like Germany, the Netherlands and Finland, insist on fiscal discipline, while most of the other countries are calling for financial transfers from the wealthy north to the poorer southern nations. Germany does not believe that giving more money to the debt- ridden nations is the answer, unless these nations do more to restrict government spending.

Chancellor Angela Merkel sharply criticized the idea of Euro bonds as a means of delivering Europe out of its severe debt crisis. The German leader said instruments such as euro bonds, short-term euro bills and a common debt repayment fund would be in breach of the German constitution, and that she regarded them (Euro bonds) as “economically wrong and counterproductive.”

Chancellor Angela Merkel is taking a hard line on the euro crisis this week, insisting that shared debt be avoided at all costs. The German leader said, “the economic motor and anchor of stability in Europe is Germany, but even Germany’s strength isn’t endless”. The German Chancellor went on to say, “Our work must convince those who have lost confidence in the euro zone, not by self-deception and sham solutions but by fighting the causes of the crisis,”. She warned that Germany can’t save the euro on its own.

The feet of the image described in Daniel 2:41-43 reveal an end-time Europe that is a deeply flawed: “And whereas thou sawest the feet and toes, part of potters’ clay, and part of iron, the kingdom shall be divided; but there shall be in it of the strength of the iron …. And as the toes of the feet were part of iron, and part of clay, so the kingdom shall be partly strong, and partly broken. And whereas thou sawest iron mixed with miry clay … they shall not cleave one to another, even as iron is not mixed with clay.”

Some nations, like Germany, are strong like iron. Others such as Greece and Spain, like clay compared to iron, are weak and struggling. The European Union is a mix of stable nations and very unstable nations—Before Christ returns 10 leaders in Europe will give their power to an end-time European dictator. See Revelation 17:12-14: The ten horns you saw are ten kings who have not yet received a kingdom, but who for one hour will receive authority as kings along with the beast. 13 They have one purpose and will give their power and authority to the beast. 14 They will wage war against the Lamb, but the Lamb will triumph over them because he is Lord of lords and King of kings —and with him will be his called, chosen and faithful followers.”

It is extremely important for you to watch closely what takes shape in Europe.

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