The Euro Crisis Is Entering A New, Highly Dangerous Phase

Greetings,

The dollar is dying. Now the Euro is in crisis. Poverty spreads across America. Europe is now facing high poverty and unemployment.

These Western nations are mirroring each other. They are supposed to be the wealthy nations. So why now are they suffering and imploding?

Prophecy tells us that we are at the end of their world. This shows us why nothing is working for them. This also shows us why there is so much turmoil and confusion.

It is just as Elijah Described it to us in these words….”Everywhere that we look, and everything that we can think about, marks the end of this world.”-Chp.61(The Fall Of America)–This cannot be denied!

The Euro Crisis Is Entering A New, Highly Dangerous Phase

Source: www.businessinsider.com

EVER since the euro crisis erupted in late 2009 Greece has been at or near its heart. It was the first country to receive a bail-out, in May 2010. It was the subject of repeated debate over a possible departure from the single currency (the so-called Grexit) in 2011 and again in 2012.

It is the only country in the euro zone whose official debt has been restructured. On December 29th the Greek parliament failed to elect a president, forcing an early snap election to be called for January 25th. The euro crisis is entering a new, highly dangerous phase, and once again Greece finds itself at the centre.

Investors promptly swooned, with the Athens stockmarket falling by almost 5% in a single day, bank shares down by even more and Greek ten-year bond yields rising to a new 2014 high of 9.5% (over seven points above those for Italy). The reason for this collective outbreak of nerves is that the polls point to an election win for Syriza, a far-left populist party led by Alexis Tsipras.

Although Mr Tsipras says he wants to keep Greece in the euro, he also wants to dump most of the conditions attached to its bail-outs: he would end austerity, reverse cuts in the minimum wage and in public spending, scrap asset sales and seek to repudiate much of the country’s debt. Such a programme seems, to put it mildly, to sit uncomfortably with Greece’s continuing membership of the single currency.

The early election is likely therefore to create a political crisis in Greece. What happens beyond that is less clear. Investors seem to be betting that the people of Italy, Spain and France will peek at the chaos in Athens, shudder–and stick to the austerity that Germany’s Angela Merkel has prescribed for them.

But that seems too sanguine to this newspaper. It is hard to believe that a Greek crisis will not unleash fresh ructions elsewhere in the euro zone–not least because some of Mrs Merkel’s medicine is patently doing more harm than good….More Here

Read more: http://www.businessinsider.com/the-euro-crisis-is-entering-a-new-highly-dangerous-phase-2015-1#ixzz3NzXRfmoa

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