Looking at the financial situation through the lenses of Scripture we can come away with some prophetic possibilities. First, I don't see a Greece exit because if this is the time because Greece, being one of the ten Western European Union (WEU) counties that many believe to be the ten horns, will have to be forced to stay in the Euro zone. Whether Greece will be subdued or another group, not including Greece, subdued remains to be seen. In order for any subduing to be Scriptural, the Antichrist will have to be on the scene. Again, the only one at the moment who has confirmed a seven year treaty is Javier Solana, and besides that we don't have one that is visible who has the fulfilled any possible Scripture. The confirmed treaty is the European Neighborhood Policy (ENP), which seems a distant memory since its confirmation on January 1st, 2007. Anyhow, if this is the time then the EU powers will force Greece to stay in, but that is my opinion.
In order to keep Greece in the Euro zone, the European Central Bank (ECB) will have to print a lot of Euros to bailout the banks in the upcoming crisis. The last time a huge sum of money was printed in the world food prices skyrocketed in many parts of the world which led to the Arab Spring. I believe the ECB will print huge sums of money with the backing of the US Federal Reserve (Fed) in some way. The Fed and the ECB will work hand in hand to keep the markets from collapsing, and it is at this time, late summer to fall, that high inflation may bring down the financial system. Maybe not hyperinflation at the moment, but if one comes in and subdues three of the WEU members, marches into E. Jerusalem to perform the abomination of desolation, and hyperinflation grips the world, then you can see Revelation 6 and its seals before us. Time will tell if we are that close.
Israel is beside itself as the West, which is the last beacon of freedom and common sense, abandons Israel. Netanyahu lead a two hour Bible study the other day, and his knowledge of Scripture is outstanding. His new unity government seemed too easy to put together in the era of unpredictable Israeli politics. Is God putting Netanyahu in power and solidifying Netanyahu's position so that when the Spirit of God envelops Israel the people will have a leader who understands? I do not know, but it is very interesting a man like Netanyahu survives one storm after another. Look for the West's abandonment of Israel to increase the likelihood of Iran, Russia, and Turkey to attack Israel. When Israel's enemies see her abandoned, then prophecy will come to pass, and we are almost there.
2 Peter 3:10-18
"But the day of the Lord will come like a thief. The heavens will disappear with a roar; the elements will be destroyed by fire, and the earth and everything done in it will be laid bare.[a]
11 Since everything will be destroyed in this way, what kind of people ought you to be? You ought to live holy and godly lives 12 as you look forward to the day of God and speed its coming.[b] That day will bring about the destruction of the heavens by fire, and the elements will melt in the heat. 13 But in keeping with his promise we are looking forward to a new heaven and a new earth, where righteousness dwells.
14 So then, dear friends, since you are looking forward to this, make every effort to be found spotless, blameless and at peace with him. 15 Bear in mind that our Lord's patience means salvation, just as our dear brother Paul also wrote you with the wisdom that God gave him. 16 He writes the same way in all his letters, speaking in them of these matters. His letters contain some things that are hard to understand, which ignorant and unstable people distort, as they do the other Scriptures, to their own destruction.
17 Therefore, dear friends, since you have been forewarned, be on your guard so that you may not be carried away by the error of the lawless and fall from your secure position. 18 But grow in the grace and knowledge of our Lord and Savior Jesus Christ. To him be glory both now and forever! Amen."
It is easy to try to portray the Germans as the "bad guys" in all this, but try to step into their shoes for a minute.
If you had some relatives that were spending wildly and that had already run up $100,000 in credit card debt, would you be a co-signer on their next credit card application?
Of course not.
The recent elections in France and Greece made it abundantly clear that the populations of those two countries are rejecting austerity.
Instead, they want a return to the debt-fueled prosperity that they have always enjoyed in the past.
Unfortunately, they need German help to be able to do that.
That is why new French President Francois Hollande is pushing so hard for eurobonds. He wants the rest of the eurozone to be able to "piggyback" on Germany's sterling credit rating so that everyone can return to the days of wild borrowing and spending.
But Germans greatly fear what a co-mingling of eurozone debt could eventually mean. Not only would Germany's borrowing costs rise dramatically, but there is also a concern that the rest of the eurozone could eventually pull Germany down with them.
Austria, Finland and the Netherlands are also against eurobonds, but the key is Germany.