Germany is now telling banks that they will lose half of their investment in Greek debt, and is studying the possibility of Greece returning to the drachma. “The recklessness is breath-taking,” wrote Ambrose Evans-Pritchard in the UK Telegraph.
Greek finance minister Evangelos Venizelos thinks the pressure tactic to force Greece to submit to EU-IMF demands for further austerity might bring mutual destruction. “Whoever thinks that Greece is an easy scapegoat,” he said “will find that this eventually turns against them, against the hard core of the eurozone…” (meaning Germany)
Germany’s EU commissioner Günther Oettinger thinks that Europe should send armed “blue helmets to take control of Greek tax collection and liquidate state assets.”
Greek newspapers are suggesting that the German pressure is the “Fourth Reich,” “Terrorization of Greeks,” etc.
Mr. Schauble, Germany’s finance minister, threatened that there would not be a third bailout of the Greeks unless they comply with the austerity demands of the EU and the IMF. But if that would happen there would be a “fast and furious” chain reaction among the weaker nations of the EU.
Greece is being strangled after it behaved badly for decades by “violent fiscal deflation” without offsetting factors. There has been no stimulus package, only more rescue packages. There has been no debt relief. The debt still has to be paid back to investors. And there has been no devaluation of the Greek currency, because to devalue Greek Euros would be to devalue them throughout all of Europe. Greece is now a victim of the creditor powers, a vassal state.
“Citigroup and UBS (a Swiss bank) both issued reports… on the mechanics of [European Monetary Union] break-up, both concluding… that EU leaders cannot and will not allow it to happen.”
“‘The Euro should not exist,’ said Stephane Deo from UBS. It creates more costs than benefits for the weak.” In other words, the weak states become vassals to the strong.
UBS believes that the only solution is “fiscal confederation.” Germany’s High Court however said, that “budgetary powers may not be alienated to ‘supra-national bodies.’” In other words, any economic consolidation would have to be under the control of Germany, the largest economy of Europe and the most fiscally capable of all the European nations.
Willem Buiter of Citigroup said that “there is no recent, close analogue to the EU… As a blend of national and supra-national, the EU resembles the Holy Roman Empire, which united central Europe from the 10th Century until Luther (technically until 1806).”
The resurrection of the Holy Roman Empire has been the goal of the EU and the Eurozone all along. Fiscal consolidation will only strengthen political consolidation. And many things can happen, including war and/or a personal dictatorship among them. But the ultimate beneficiary is the Vatican, the only stable, non-aligned, non-dependent nation state of the European Union. The Vatican rides above all the economic fray as a guiding voice toward the kind of centralization that she designs.
The eurozone crisis is creating the very circumstances the Bible insists will happen, in which the Holy See rules Europe through Germany like in the middle ages. The economic model of Charlemagne is now being restored. Europe is not likely to be divided, but centralized. Rome cannot rule the world as the Bible predicts without successfully reinventing itself as the dictator of Europe.
Perhaps the late September state visit of Pope Benedict XVI to Germany and his speech to the Bundestag has more significance than most people realize.
Revelation 18:9, 15
“And the kings of the earth who have committed fornication and lived deliciously with her, shall bewail and lament for her… And the merchants [of the earth] which were made rich by her, shall stand afar off, for fear of her torment, weeping and wailing”
