“Greece faces massive loss of sovereignty.”

“Greece faces massive loss of sovereignty,” read a recent article in the EU Observer.  As the EU forwards 12 billion euros of additional relief to Greece, it completes its fifth payment of the overall 110 billion euro package.  This recent payment should help Greece meet its financial obligations through the end of the month.

Experts suggest that the next required steps for Greece will result in major privatization of Greece’s many state-owned assets, not unlike the “selling of East German firms in the 1990’s after the fall of Communism.”  Although many European nations speak of the need to “encourage” and “support” the Greeks during this difficult financial situation, this does not erase the reality of the impact of privatization on Greek sovereignty (EU Observer, July 4, 2011).

God highlights that the final configuration of “kingdoms” under the Beast power will “give their power” over to that Beast for a time (Revelation 17:13).  Exactly how power will be given over to this European Beast power remains to be seen, however, massive indebtedness and the corresponding repayment plans could be one way this prophecy is fulfilled.  Time will tell exactly how this powerful prophecy will come to pass.