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The bailout crisis continues unabated as Greece, Portugal and Ireland (and perhaps less so Spain and Italy) experience serious financial difficulties.
As of this writing, debt default threatens Greece once again. Most if not all of these countries are falling short of their financial targets.
As a result, strains on the euro currency remain very apparent in the markets as Europe strives to walk through this monetary morass, hoping that the European Union and the euro will survive fully intact.
And yet the primary goal of the EU has remained unchanged throughout these financial trials. London Times columnist Anatole Kaletsky wrote an article appropriately titled "A Eurostate or Bust-the Big Brussels Gamble" (May 11, 2011). Its compelling drophead declares, "The bailouts don’t work, but they do allow the EU to build up centralized power at the expense of nation states" (emphasis added).
As Kaletsky further observed, "Progression from the euro to full federalism is exactly on schedule"-meaning, for many, a United States of Europe. Based on the Bible, The Good News has long predicted that a powerful centralized European power will eventually emerge, whether the EU would be its predecessor or not. Hitler emerged out of a very serious economic crisis in Germany. Yet it seems that Brussels could well provide a useful infrastructure for a future European dictatorship.
To understand the overall direction in which events in Europe will be taking us, ask for our free booklets You Can Understand Bible Prophecy and Are We Living in the Time of the End? (Source: The Times [London].)
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Keywords: Euro European dictatorship European economic crisis
European Union - economy: