The European Union announced that it is establishing a new powerful financial authority:
EU To Establish Powerful Financial AuthoritySpiegel – Sept 10, 2009One year after the outbreak of the worst economic crisis since World War II, the European Union is close to creating an EU-wide financial markets regulatory authority.
In its Thursday edition Germany’s Süddeutsche Zeitung reported that it had obtained draft regulations that, if approved, would create three powerful supervisory authorities alongside an early warning system which would monitor banking, financial markets and insurance and pension funds across Europe. The authorities could take action to prevent a repeat of the current financial crisis that precipitated the global economic slump. The steps to create the new authority came at the request of EU member states.
According to the plans, the European controllers would be given the right — in cases where a crisis is foreseeable — to directly intervene in financial markets. The newspaper reports that the European Commission plans to present its draft regulations on Sept. 23. The plans state that the financial oversight system would be built as a network.
A European Systemic Risk Council would be created at the European Central Bank level to identify emerging dangers and serve as an early warning system for Europe’s markets. And three new agencies are also planned for controlling banks, stock markets and insurance companies…
Authorities Will Be In Business by 2011
Under the plan, the new oversight authorities would be in operation by 2011, and they will be allowed to issue direct orders if they feel that national supervisory authorities aren’t acting decisively enough when a financial institute, involved in cross-border business or which could threaten the stability of markets, runs into trouble. The authorities’ right to issue directives, however, would be limited to measures “that have no impact on the financial responsibilities of the member states.”
With this limitation, Brussels officials are adhering to a decision made by leaders of the EU member states. At a summit in June the German and British governments insisted that the decisions of the European financial supervisory authority not have direct influence on decision-making relating to national budgets. The proposed regulations also provide member states with the right to contest any decisions — and either the EU finance ministers or the European Commission would give the final ruling in any dispute. http://www.spiegel.de/international/business/0,1518,648107,00.html
Now although the power is now limited, the Bible shows that the members of the emerging European beast power will give all the authority to its final leader:
13 These are of one mind, and they will give their power and authority to the beast (Revelation 17:13).
This seems to be a prelude to a prophecy about the economic European beast power in the Book of Revelation:
16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name. 18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666 (Revelation 13:16-18).
While “666” is not yet required, the EU is apparently establishing a lot of agencies that will facilitate the implementation of at least multi-national, if not quite completely worldwide, economic controls.
Some articles of possibly related interest may include:
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? What is ahead for Europe? Is it destined to rule?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
SDA/LCG Differences: Two Horned Beast of Revelation and 666 The Living Church of God is NOT part of the Seventh-day Adventists. This article explains two prophetic differences (like who is 666), the trinity, differences in approaching doctrine, including Ellen White.
Some Doctrines of Antichrist Are there any doctrines taught outside the Churches of God which can be considered as doctrines of antichrist? This article suggests at least three. It also provides information on 666 and the identity of “the false prophet”. Plus it shows that several Catholic writers seem to warn about an ecumenical antipope that will support heresy.