Greece, The Euro And Why It Matters

The situation in Greece is quickly coming to a head, and one may wonder why this is so important and why so much of the international news is focused on this situation. Additionally, it seems clear that there are potentially big implications to these developments prophetically.

First - we have to remember that Daniel 2, Daniel 7 and Revelation 17 tells us that the EU will somehow morph into the last stage, the "10 Kings" stage. Despite a lot of speculation, no one really knows exactly what these 10 kings will consist of. There are some who believe it will be the ten most powerful nations who emerge from a condensed EU (some believe it will be the WEU), there are some who believe it will end up being ten regions of the world, with each region having a "king" presiding over that region, and on and on the speculation goes.

And lets not forget that it is the 10 Kings who give rise to the antichrist and once formed, will become the basis of the Tribulation world-government.

What has this to do with Greece?

That takes us to this update and summary of the current situation in Greece:

Greek Parliament May Reject EU/IMF Austerity Measures In Historic Vote On Wednesday: Future Of Euro Hangs By A Thread

First, the key points as provided in this article:

*Greek Prime Minister’s majority cut to one ahead of crucial IMF and EU austerity vote in parliament on Wednesday

*Rejection of austerity package will lead to a default by Greece and eurozone exit

*Greece is set to spend 131 billion euros on interest payments to banks between 2009 and 2014 according to IMF

*Germany’s Die Welt says Germans would rise up in rebellion if they had to accept equivalent austerity measures

*Protests and strikes intensify in Athens ahead of historical vote on Wednesday that could spell the end of the euro currency

Four Greek lawmakers from the ruling PASOK party have indicated they will vote against the new EU and IMF austerity package in parliament on Wednesday. If the Greek parliament votes against the legislation, it would pave the way for Greece to default on its debt to foreign banks and exit the eurozone in an historic victory for democracy.

Prime Minister George Papandreou’s socialist PASOK party has a slim majority of only 155 deputies in the 300-member parliament. The defections of any more lawmakers may mean the government not be able to pass the new austerity measures and an implementation law on Wednesday and Thursday, which the EU, IMF and ECB are insisting on to enable the next interest payments to be made to banks on time.

The main opposition leader, Antonis Samaras, has said the austerity measures are a “medicine that is worse than the sickness they are meant to cure” and that he will not vote for them.

In other words, if Greece is to remain in the EU, then they will have to make these draconian payments which would include the following:

Greece is set to pay a staggering €131bn in refinancing and interest payments to American, German and French banks between 2009 and 2014 , the IMF has estimated.

The draconian package of latest tax hikes and budget cuts include measures forcing people earning as little as 8000 euros a year to pay 10% in taxes to help the government meet the multi-billion euro interest payments to banks while universities close due to funding cuts.

Even the Greek Finance Minister Evangelos Venizelos said over the weekend that the measures were “hard and unfair.”

The austerity measures would drain the economy of the last of its liquidity and bust those businesses that are still solvent.

So what can Greece do?

Greek lawmakers began debating the new austerity plans today.

If Greece does not pass the package, it will not receive a 12 billion euro installment of loans from its international bailout plan to make payments to banks in the USA, Germany and France forcing it into a disorderly default.

The threat of a disorderly default and financial disaster is being used by banks and eurozone officials to pressure the Greeks to accept the transfer of wealth to the banks and acceopt the loss of their souvereignty.

A disorderly default would, however, outside the eurozone.

So by exiting the Euro and possibly the EU, Greece could return to a national currency and face short-term hardships but could, theoretically "pave the way for a rapid recovery of Greece’s economy".

It presents an interesting dilemma.

It could also pave the way for other countries who are in similar situations (Spain, Portugal, etc.) - to take a similar road and therefore spell the collapse of the EU.

Can this happen? Prophetically?

Of course. We know that the EU will necessarily have to undergo big changes in order to morph into the 10 Kings stage. The last stage which will be in existence for a brief period - basically the Tribulation period and perhaps a brief period before the beginning of the Tribulation (it is unclear when, exactly, the 10 Kings will be formed relative to the beginning of the Tribulation).

We also know that big changes result from big crises. And that is certainly what we are seeing now in the Eurozone (those countries with the EURO as their currency) and the greater EU.

There appear to be several potential scenarios in play at the moment:

1. The EU becomes more tenuous, resulting from the instability in Greece and undergoes a contraction (10 countries?). This idea has been discussed before, by some of the more powerful EU countries, during times of frustration.

2. Greece goes along with the EU plan, and as a result, loses all of their sovereignty - further consolidating the power of a powerful central EU, in which case, further growth may be the only way to survive - by adding more countries and continuing expansion plans. In this scenario, one could envision a 10 world region growth using the basic EU template for a world governance. George Soros seems to favor this plan.

3. The EU could sustain itself but because of the economic problems of so many countries within the EU, a powerful block of 10 countries could arise and take the reigns of the EU, with less viable countries (economically) having to assume a lesser role - and of course this being the genesis of the 10 Kings.

There are probably other scenarios in play.

The bottom line is this:

The EU is on the verge of big changes - by necessity - whether coming in the form of a more powerful, "centralized" state, gaining more and more control of national sovereignty, or whether coming is a form of some kind of collapse.

Either way, we appear to be just on the brink of seeing big changes in he EU - the kind of changes that could precipitate the rise of the 10 Kings stage.

This will be extremely interesting to watch, as the EU experiences these changes.

We may be seeing the gradual evolution into the 10 Kings stage - and if so, then we really are getting ever so close to the beginning of the Tribulation and the subsequent rise of the antichrist.

And this is exciting for one reason and one reason only. We know with great certainty that the Church will be gathered up prior to the beginning of the Tribulation - so if the Tribulation is approaching that rapidly - so is the gathering up of the Church as described in 1 Thessalonians 4:16-18.

We were told to watch for the signs of His return, and the signs are all around us and in great abundance. There is no denying this fact. Jesus said that we should be looking up for His return during this season - not worried about the events on earth. The apostle Paul said that we should be giving each other hope and encouragement during these times.

We should follow that biblical advice - to look up for His coming and into the heavenly place that has been prepared for us - and not focused and worried about the affairs of this world. Our "hope and encouragement" doesn't come from this world, it comes from what awaits us.