Biblical prophecy contains a sequence of events for the last days, which can be "assembled" by constructing a relative timeline as provided in Daniel 2, and the prophecy of the "large statue". To simplify, by viewing this statue and moving from it's head to toe, one can view a sequence of prophetic events chronologically.
History has revealed the incredible accuracy of this prophecy as dictated by Daniel 2.
First, we see the four gentile kingdoms who would rule over Israel, as shown in the statue's various metals:
Head (gold) = Babylonian Empire (626 BC - 539 BC)
Chest/Arms (silver) = Medo-Persian Empire (539 BC - 330 BC)
Belly/Thighs (bronze) = Grecian Empire (330 BC - 63 BC)
Legs (iron) = Rome I (63 BC - ?)................evolve into Iron/Clay = Rome II (current "revived Roman Empire", aka EU/Med Union)
The reason I don't include the feet and toes as a separate, 5th empire is because the bible doesn't allow it. Daniel 2 and Daniel 7 specifically state that there will only be four such empires (as Daniel looked ahead in "history") who rule over Israel. The last empire is known as the Roman Empire, but biblically, we see it in two distinct phases.
We are informed that the Roman Empire of "Iron" (a perfectly appropriate description of the Roman Empire at the time of Jesus, who indeed ruled like "iron" - occupying cities, establishing their "rule" over occupied territories by use of the military etc.) would evolve during the last days into a kingdom described as iron mixed with clay. It would be this last form of the Roman Empire which would exist at the time of the Second Coming of Christ.
As mentioned, it is important to understand that as one views this statue, and moves from head to toe, one is essentially moving through time, as shown above.
Most literal prophecy scholars believe that we are now at the very base of this statue, historically, and we are at the "feet" stage.
The revived Roman Empire, aka as the combined EU/Med Union, is almost identical to any map of the original Roman Empire, at its peak. As Daniel 2 states, this "last days" consolidation of countries, unlike the "original" Roman Empire, is a very loose confederation, and has attempted to combine the southern Mediterranean States (Islamic) and the northern Mediterranean States (old Europe, or western Europe). Daniel 2 predicted this with amazing accuracy:
"Just as you saw that the feet and toes were partly of baked clay and partly of iron, so will this be a divided kingdom: yet it will have some of the strength of iron in it even as you saw iron mixed with clay. As the toes were partly iron and partly clay, so this kingdom will be partly strong and partly brittle. And just as we saw the iron mixed with baked clay, so the people will be a mixture and will not remain united, any more than iron mixes with clay." (Daniel 2:41-43).
It seems clear - as we move through history, using the statue of Daniel 2 as a guide - we are at the "feet" stage. We have a formal consolidation of Europe now, which has been perfectly described by the scriptures. In fact, the "mixture" of iron and clay, described biblically - is easily seen by a quick view of the EU/Med Union. This division of cultures and geography has even been recognized by the EU/Med Union, and as a result, a "split" in leadership roles has been created - with two leadership groups, 5 (countries/leadership) from the north and 5 similar representatives from the south.
Two articles which discuss these topics:
1. "The Mediterranean Union: Dividing the Middle East and North Africa". If there was any doubt that the Med Union is simply an outgrowth of the EU, the following quotes are provided:
"The Mediterranean Union: Expanding the E.U. into the Middle East and North Africa
The whole Mediterranean is slated to eventually fall within the European Union’s sphere of influence. This initiative is being spearheaded by France and was officially kicked off by Nicolas Sarkozy on a tour of the Mediterranean that started in Algeria. 
The idea of a “Mediterranean Union” was presented to Europeans with the election of Nicolas Sarkozy, but this idea is not as new as the mainstream media presents it. Zbigniew Brzezinski acknowledged in 1997 that “France not only seeks a central political role in a unified Europe but also sees itself as the nucleus of a Mediterranean-North African cluster of states that share common concerns.”  An extension of the E.U. sphere of influence will also result in an extension of Anglo-American influence and the economic diktats of the Washington Consensus."
2."5 + 5 Forum discusses the relaunch of the Med Union". This article provides more information on the "mixture" represented biblically as "iron and clay", with the 10 countries leading the union, and divided into a 5/5 split.
Even the EU alone (w/o the Med Union) is a vast mixture of cultures, religions and political views. This revived Roman Empire is clearly an "iron and clay" mixture, particularly when compared to the original Roman Empire which was in existence at the time of Christ.
Back to Daniel 2.
If we are in the stage of the "iron and clay" mixture - or also known as the "revived Roman Empire", then there are only two stages remaining, one of which is described in Daniel 2. Moving from head to toe on the statue, we are now awaiting the emergence of the 10 Kings (stage I - Daniel 2) and then the subsequent emergence of the antichrist from these 10 Kings (stage II - Daniel 7):
"The ten horns are ten kings who will come from this kingdom. After them, another king (the antichrist) will arise, different from the other kings...He will speak against the Most High and oppress his saints..." (Daniel 7:24-25...Quotes in "( )" mine).
Then Revelation provides more context and detail to Daniel 7:
"The ten horns you saw are ten kings...who will receive authority as kings along with the beast (the antichrist). They will have one purpose and will give their power and authority to the beast. They will make war against the Lamb, but the Lamb will overcome them because he is Lord of lords and King of kings..." (Revelation 17:12-14).
We also know that the EU, or the revived Roman Empire will continue to grow until its leader, the antichrist consumes the world:
"He was given authority over every tribe, people, language and nation." (Revelation 13:7).
So, back to the main points.
We are to be looking for several things. The current stage - the one in which we are living - seems obviously the stage (referencing Daniel's statue) of iron/clay feet, awaiting the emergence of the 10 toes, aka the "10 kings". Then, following the development of 10 kings, somehow, from these 10 kings, the antichrist will arise and gain power, which will grow to encompass the world.
Therefore, any potential consolidation of "10 kings" is of great interest to the prophecy watcher. Additionally, any further growth in the EU is of great interest.
This brings us to the EU and its plans. The following links are taken from the main EU Website Main site's link Here.
1. "The EU's Global Role". Quotes:
"A major challenge now is to spread peace and security beyond the European Union’s borders. To meet this challenge, the EU is developing a common foreign and security policy so that it can act as a force for stability, cooperation and understanding in the wider world."
"Finally, the European Union shows how countries can successfully pool economic and political resources in the common interest. It serves as a model for integration between countries in other regions of the world."
2. "European Union in the World". Here we see references to the "emerging world order", and specific foreign policy intended for "effective multilaterism". Quotes:
"The external relations policy of the Barroso Commission is based on three key basic propositions on the EU’s role in the emerging world order. The EU is a global player; it pursues a specific foreign policy philosophy which one could term “effective multilateralism”; and, thanks to its specific nature, the Union disposes of a wide range of foreign policy instruments which are particularly suited to respond to today's challenges."
3. "European Union in the World: Common foreign and security policy". This informative piece shows us the military growth within the EU and its intentions:
"The idea that a strong Europe should act as one on the world stage has encouraged member countries to work together to achieve a coherent approach to foreign policy. Progress over the years has been slow, but steady."
"In the light of the Balkan wars, and of conflicts in Africa in the 1990s, the EU has created a European Security and Defence Policy (ESDP) within the overall framework of the CFSP.
Under the ESDP, military or police forces can be sent to areas of crisis to carry out humanitarian operations, peacekeeping, crisis management and even peacemaking. Military action is carried out by an EU rapid reaction force, separate from Nato but with access to Nato resources."
So...Based upon biblical prophecy we would expect to see the EU continue its growth and somehow develop 10 kings.
Whether the church is present to see the development of the 10 kings is anyone's guess. We may or may not be around to see this, depending on the timing of the Rapture.
However, one can find something very very interesting on the EU's website:
"The European Union in the World: WHERE".
The EU has, for whatever reason, decided to go ahead and divide the world into 10 regions. There is no explanation provided.
The quote given above, under #1 is particularly revealing:
"Finally, the European Union shows how countries can successfully pool economic and political resources in the common interest. IT SERVES AS A MODEL FOR INTEGRATION BETWEEN COUNTRIES IN OTHER REGIONS OF THE WORLD" (emphasis mine).
Is it possible that the EU envisions its future role as a "leadership" role once the world has consolidated into the ten regions?
Why would the EU have such a proposal on a map, on their main website?
Why does the EU see its role as integrating other countries into their "framework"?
Where else can the EU expand its borders?
We can easily see that the EU has a tangible plan for ongoing growth, most recently seen in its expansion into the Mediterranean Union.
We also observe the military growth and it's expansion within the EU.
Now we actually see a proposal of consolidation of the world into 10 regions. Could this ultimately evolve into the biblical 10 kings? Perhaps with one "president" or leader of each region?
At this point, it is anyone's guess. But several ideas are clear:
- The EU is expanding and has plans for further expansion.
- The EU's military is growing and now has leadership for planned growth and an expanding role.
- The EU sees itself as providing the world a "model for integration between countries in other regions of the world."
- The EU has at least one visible proposal for a 10 region consolidation of their growth.
Based on the statue of Daniel 2, we are in the last stages of "history" as provided by God. Moving down the statue, from head to toe, reveals that we are now in the "feet" stage, of the existence of a revived Roman Empire ("iron and clay"), awaiting the ten toes stage (aka "ten horns" of Daniel 7 and Revelation 17).
It is during the "ten kings" stage - that stage in which the antichrist rules with these 10 kings - that Christ returns and completely destroys this last kingdom:
"In the time of those kings (10 kings), the God of heaven will set up a kingdom that will never be destroyed, nor will it be left to another people. It will crush all those kingdoms (aka "human government") and bring them to an end, but it will itself endure forever." (comments mine) - Daniel 2:44).
The next stage in biblical history will consist of 10 Kings. Then the antichrist will arise from these 10 kings.
According to the EU's own website, it appears that we may be rapidly approaching the 10 kings stage. We're certainly looking down the barrel of EU expansion, as the Med Union is already engulfed by the EU's sphere of influence. With plans for even greater EU expansion, we watch as the EU calls for integrating "other regions of the world". We watch the military growth of the EU. We've now seen a proposal to divide the world into 10 regions, under the EU's model.
Very little "interpretation" or speculation is required right now - it is in their (EU) own words, and their very public website.
Surprisingly, most of these unions are already forming.
The African Union is just one example of such consolidation which is currently taking place.
We see other consolidations, or "unions" forming what some are calling the beginnings of a World Government:
- Association of Southeast Asian Nations (ASEAN)
- Central American Integration System (SICA)
- Cooperation Council for the Arab States of the Gulf (CCASG)
- South Asian Association for Regional Cooperation (SAARC)
- Union of South American Nations (UNASUR)
- Commonwealth of Independent States
- Arab League --> Arab Union?
- Pacific Islands Forum --> Pacific Union?
- North American Free Trade Agreement (NAFTA) - will this morph into a North American Union?
The consolidation of countries into "unions" is progressing and shows no signs of slowing or reversing course.
We're close to the end. It is coming, and the rapid pace at which it is coming is astonishing.