The future of Germany and Europe.

Last Friday the German parliament symbolically voted to continue supporting European debt relief.  Internally, the parliament was split, with representatives refusing to further support EU debt by giving up German sovereignty through a fiscal union.  A Bavarian representative warned that “…the Free State of Bavaria will not take one step further towards an EMU fiscal union or debt pool.”  According to a seasoned journalist, “Germans have begun to sense that the preservation of their own democracy and rule of law is in conflict with demands from Europe.  They must choose one or the other” (The Telegraph, September 30, 2011).

Meanwhile, with Greece’s looming default and an increasing number of EU nations calling for its exit from the EU, economists are pondering the ramifications of such an event.  “The prospect of a Greek default is viewed as increasing the chances of others, which in turn is seen to threaten banks holding billions of dollars of government bonds.  The bill for rebuilding the banks lies with already indebted governments.  If confidence continues to wane, a run on a country and its banks could drive a country from the euro zone” (Wall Street Journal, September 30, 2011).  

What might happen if multiple nations default and possibly leave the euro zone?  With strong German feelings against relinquishing national or fiscal sovereignty, and the possibility of other nations “leaving” the euro, the concept of a “European core” of nations subject to German fiscal and political rules is becoming more likely.  

Scripture highlights that ten kings will “give” their power over to a centralized European Beast power, backed by a mother church (see Revelation 17).  We appear to be watching events that God is guiding in Europe to bring His prophecies to pass!