Euro area may need to shrink to survive.

“As its sovereign-debt crisis nears a third year and rescue efforts fail to stop the rot in financial markets, economists from Pacific Investment Management Co.’s Mohamed El-Erian to Harvard’s Martin Feldstein say ensuring the euro’s existence may require members to leave the 17-nation currency region.  The result would be what El-Erian, Pimco’s Newport Beach, California-based chief executive officer, calls a ‘smaller, much better integrated, fiscally strong euro zone.’”

While Chancellor Merkel and President Sarkozy are adamantly against this move, economists take a different view.  One economist used a simple yet sobering analogy to illustrate the need for such a move:  “Sometime in the next two years, we probably will see an exit as it becomes increasingly impossible for the euro to overcome its internal contradictions.  It’s like cutting off a gangrenous leg to preserve the body” (Bloomberg, August 22, 2011).  

Revelation 17 clearly states that ten “kings” will make up the final Beast power in Europe. These kingdoms may be ethnic groups, nations, or a mixture of both.  In the current euro zone, we see strong economies in both eastern and western Europe.  We could see “five toes” come from each region of Europe (west and east) making up this final Beast power (Daniel 2:41-43).  We need to watch carefully as Bible prophecies come alive!