Euro Crisis Escalates amid Defeat of Democracy · December 07, 2010
“The euro zone’s sovereign debt crisis escalated Friday,” said the Wall Street Journal, “as the market homed in on Spain as another potential weak spot, leaving officials scrambling to quell investors’ fears.”
However, Jose Luis Rodriguez Zapatero, the Spanish Prime Minister said there was “absolutely” no chance that Spain, the euro zone’s fourth-largest economy, would ask for a financial rescue package from the European Union. But this did not calm the markets, as the Euro tumbled and Spanish and Portuguese sovereign bonds were sold off.
“If we continue to see the recent trend in Spanish bond yields then the crisis is going to be taken to a completely new level…” said Gary Jenkins of Evolution Securities.
As debate swirled around the idea of a bailout for Portugal and Spain both governments, the European Commission and Germany’s finance ministry denied that any pressure was being put on Spain or Portugal to ask for an infusion cash.
European finance ministers were expected to complete a deal over the weekend for an €85 billion ($113.52 billion) rescue of Ireland by Monday. But that didn’t help the markets either.
Meanwhile Famous euroskeptic Nigel Farage, in a speech before the European parliament openly accused EU leadership of destroying democracy.
[The leaders of Europe are] beginning to understand that the game is up. And yet in their desperation to preserve their dream, they want to remove any remaining traces of democracy from the system. And it’s pretty clear that none of you have learned anything.”
He’s wrong about that. The European leaders know exactly what they are doing. Farage assumes their motives are in the interest of preserving democracy and upholding the rights of the citizens of Europe. This is patently contrary to the purpose of the EU.
Speaking of the European Union he said, “Your fanaticism is out in the open. You talk about the fact that it was a lie to believe that the nation state could exist in the 21st century globalized world. But… right across every member state in this union, increasingly people are saying, “We don’t want that flag, we don’t want the anthem, we don’t want this political class, we want the whole thing consigned to the dustbin of history.”
That’s too bad. They are going to keep their flag and their anthem. European leaders aren’t interested in what the people want.
“You are very, very dangerous people indeed,” Farage continued, “your obsession with creating this European state means that you are happy to destroy democracy, you appear to be happy with millions and millions of people to be unemployed and to be poor. Untold millions will suffer so that your euro dream can continue… If you rob people of their identity, if you rob them of their democracy, then all they are left with is nationalism and violence. I can only hope and pray that the euro project is destroyed by the markets before that.”
As the Euro crisis escalates, keep in mind it is not about democracy and freedom, it is about control. The European Union isn’t likely to go away. As the Holy Roman Empire is being resurrected, watch for political, economic and finally a religious dictatorship described in Revelation 13:8 and Revelation 18:9-19.
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