ECB Cuts Off Greek Banks

European Central Bank, Frankfurt (Eric Chan)


In a move that seems ominous for Greece and the European Union, the European Central Bank (ECB) cut off some Greek banks:

Reuters – May 16, 2012
The European Central Bank has stopped providing liquidity to some Greek banks as they have not been successfully recapitalized, the ECB said on Wednesday, confirming news earlier reported exclusively by Reuters.
The news sent the euro lower against the dollar, fanning concerns among investors and in Greece that the country may have to leave the euro zone. 
Wall Street Journal – ‎16 May 2012
By GABRIELE STEINHAUSER BRUSSELS—Returning to a national currency after more than a decade of using the euro and having its money managed by the European Central Bank would catapult Greece into a financial, legal and political no-man’s land…The consequences of an exit from the euro for Greece and the rest of Europe would likely be so tumultuous that policy makers have been reluctant even to speculate on how it could work. And even though the taboo of mentioning a euro exit has fallen away in recent months, going back to the drachma would likely be messy, with many steps having to be improvised overnight.

If Greece leaves the Euro and/or the EU, it will have major ramifications around the continent.

There certainly there are problems with the European confederation, yet the Bible predicted them (cf. Daniel 2:41-43).

The Bible shows that despite weakness (Daniel 11:41-43) there will be a reorganization in Europe. The Bible also shows that ultimately, a major dictator (and the person I currently suspect for that role currently holds no official government office) will rise up and rule end time Babylon (Revelation 17:1-13), the final King of the North, European Beast power of Bible prophecy (Daniel 11:40).

As far as the Euro itself goes, regular readers of this page realize that I warned in my 2012 book that it could possibly be replaced. It still could be, but, biblically, the Euro does not seem to have to be replaced. Civil unrest is likely to occur to a greater degree in Europe (see also Is Greece Facing Civil War?). We will see.

And while Europe is not yet ready to support the final King of the North, we in the Living Church of God have long taught that it will be.  It remains likely, that directly or indirectly, despite what happens in the next month or so, Greece will ultimately support this European power.

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”?
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? What MUST happen BEFORE the Great Tribulation?
Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the German Defense Minister one to watch? What do Catholic, Byzantine, and biblical prophecies suggest?
Resurgent Germany: A Fourth Reich? Who are the German peoples and where did they come from? What is Germany’s role in end time prophecy?
When Will the Great Tribulation Begin? 2012, 2013, or 2014? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000?

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