Meltdown of Eurozone?

The mounting debt crisis in Greece is again prompting talk that Greece will or should depart from the Eurozone!  Respected columnist Roger Bootle writes in London’s Telegraph newspaper that Greece’s departure from the Eurozone and its return to the drachma may be the only way for Greece to recover from its insurmountable debt.  Returning to the drachma will allow it to print enough money to continue functioning.  European and U.S. banks have been anticipating a Greek return to the drachma since 2009, and could make the switch relatively easily (Reuters, May 11, 2012).  Bootle speculates that “this time,” the EU may indeed “let Greece go.”

The real problem could be to hold the EU together after such a departure—especially if Greece then begins a recovery (The Telegraph, May 13, 2012).  The German finance minister has stated the eurozone can withstand Greece’s departure (EUObserver.com, May 11, 2012).  But many fear that if Greece goes, the contagion could spread around Europe (Spain could be next)—leading to the return of a number of national currencies.

Although European instability will likely remain for a time, Bible prophecy indicates that order will ultimately come at least to part of Europe—the part that will be led by a strong Beast power and overseen by the Catholic Church (see Revelation 13 and 17)!  Just before the return of Jesus Christ to this earth, a group of 10 kingdoms or nations will arise in Europe that will “give their power and authority” to the Beast for a short time (Revelation 17:13).  Out of the present chaos in Europe will come a powerful, ordered group, at least for a time.

For more information on this vital topic, see our booklet The Beast of Revelation.