{"id":70832,"date":"2021-08-28T15:30:47","date_gmt":"2021-08-28T23:30:47","guid":{"rendered":"https:\/\/www.cogwriter.com\/news\/?p=70832"},"modified":"2021-08-29T02:17:18","modified_gmt":"2021-08-29T10:17:18","slug":"zh-rapidly-becoming-untenable-eurozone-finances-have-deteriorated","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/zh-rapidly-becoming-untenable-eurozone-finances-have-deteriorated\/","title":{"rendered":"ZH: “Rapidly Becoming Untenable” – Eurozone Finances Have Deteriorated"},"content":{"rendered":"

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\nEuropean Central Bank, Frankfurt (Eric Chan)<\/em><\/p>\n

COGwriter<\/a><\/p>\n

ZeroHedge<\/em> (AP) posted the following:<\/p>\n

\n

“Rapidly Becoming Untenable” – Eurozone Finances Have Deteriorated<\/h2>\n

August 28, 2021<\/p>\n

Despite negative interest rates and money printing by the European Central Bank, which conveniently allowed all Eurozone member governments to fund themselves, having gone nowhere Eurozone nominal GDP is even lower than it was before the Lehman crisis.<\/strong><\/em><\/p>\n

Then there is the question of bad debts, which have been mostly shovelled into the TARGET2 settlement system<\/strong>: otherwise, we would have seen some substantial bank failures by now.<\/em><\/p>\n

The Eurozone\u2019s largest banks are over-leveraged,<\/strong> and their share prices question their survival. Furthermore, these banks will have to contract their balance sheets to comply with the new Basel 4 regulations<\/strong> covering risk weighted assets, due to be introduced in January 2023.<\/em><\/p>\n

And lastly, we should consider the political and economic consequences of a collapse of the Eurosystem. It is likely to be triggered by US dollar interest rates rising, causing a global bear market in financial assets. The financial position of highly indebted Eurozone members will become rapidly untenable and the very existence of the euro, the glue that holds it all together, will be threatened. …
\n<\/strong><\/em><\/p>\n

Eurozone banks are overleveraged<\/h3>\n

Almost certainly, the concealment of bad debts in TARGET2 has saved the Eurozone\u2019s commercial banks from going under, because they are very highly geared to losses, …<\/p>\n

Operationally, European banks are badly affected compared with those in other jurisdictions. Basel 4 discriminates against loans to corporates not independently rated which are uncommon in the US, but not in the EU. External ratings apply to only 20% of European corporates, throwing the emphasis onto lenders\u2019 internal rating systems, which are to be strictly limited. Hence, the need for more capital. …<\/p>\n

The euro\u2019s fate<\/h3>\n

The public realisation of the situation within TARGET2 and the precariousness of the major banks, plus in the absence of some extremely imaginative accounting the inability of banks to come up with extra capital to satisfy Basel 4 could terminate the European project. In particular, when Germany\u2019s Bundesbank finds that instead of being owed some \u20ac1.1 trillion by the other national central banks, she is on the hook for \u20ac400bn it will be the last straw for a people whose thrift and savings will have been wiped out. The same can be said for Finland, Luxembourg, the Netherlands, and some of the smaller states. …<\/p>\n

The cumulative effect of central planning has been to make the economies of EU nations less efficient and through over-regulation divorced from free and efficient markets.<\/p>\n

But a final crisis is mounting. After an initial flight out of the dollar into the euro subsides it will be virtually impossible to avoid a wholesale systemic failure, taking down not just the banks, but the central banking network and the euro itself. https:\/\/www.zerohedge.com\/economics\/rapidly-becoming-untenable-eurozone-finances-have-deteriorated<\/a><\/p><\/blockquote>\n

Yes, the EU has banking problems.<\/p>\n

But remember, as the USA continues to print debt in the multiple trillions, this affects its dollar.<\/p>\n

The Europeans are not in quite the same debt situation as the USA.<\/p>\n

Interestingly, the late Pastor General of the old Worldwide Church of God, Herbert W. Armstrong<\/a><\/span>, had a view about banking matters and European unity. Here is something he said in a sermon on July 7, 1984:<\/p>\n

And I can see now, the event that is going to trigger the formation of the reunification in Europe<\/strong>; the resurrection of the medieval Holy Roman Empire that we\u2019ve been looking forward to that is prophesied to come\u2026<\/p>\n

But I believe that some event is going to happen suddenly just like out a blue sky that is going to shock the whole world and is going to cause the nations in Europe to realize they must unite! \u2026 Well now I think I can see what may be the very event that is going to trigger\u2026that is the economic situation in the world<\/strong>\u2026<\/p>\n

The whole banking structure in the United States is a network all jointed together. But not only that, one nation has to deal with other nations and imports and exports. And so they have to have a means of transforming money from one nation to another. And so the banking structure is international and interwoven\u2026<\/p>\n

Now when the financial structure breaks down, all civilization is going to break down\u2026<\/p><\/blockquote>\n

So, an economic or banking crisis is what Herbert W. Armstrong<\/a><\/span> concluded would drive Europe to unite.<\/p>\n

That is the opposite view that many have.<\/p>\n

That being said, I agree with Herbert W. Armstrong<\/a><\/span> that it will take some type of crisis for Europe to reorganize. This will likely be a combination of civil unrest, economic problems, a pandemic, migrant issues, and also signs and lying wonders.<\/p>\n

A major reorganization is prophesied in the Bible to happen and push Europe under totalitarian control:<\/p>\n

12 \u201cThe ten horns which you saw are ten kings who have received no kingdom as yet<\/strong>, but they receive authority for one hour as kings with the beast. 13 These are of one mind, and they will give their power and authority to the beast. (Revelation 17:12-13)<\/p><\/blockquote>\n

A crisis will occur that is strong enough for Europe to reorganize and fulfill numerous biblical prophecies.<\/p>\n

The current protests and banking debt are steps that are pushing Europe in that direction.<\/p>\n

The Bible teaches that Europe will dominate the world economically for a time (cf. the 17th and 18th chapters of the Book of Revelation).<\/p>\n

That time will be in the near future.<\/p>\n

Despite how the banking situation looks now, biblical prophecies will come to pass, and for a time Europe will rise up.<\/p>\n

Some items of possibly related interest may include:<\/em><\/p>\n

Europa, the Beast, and Revelation<\/a> Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about \u201cthe Beast\u201d? Is an emerging European power \u201cthe daughter of Babylon\u201d? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?<\/a>
\nEuropean Technology and the Beast of Revelation<\/a> Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation<\/span><\/a>.
\nGermany\u2019s Assyrian Roots Throughout History<\/a> Are the Germanic peoples descended from Asshur of the Bible? Have there been real Christians in Germanic history? What about the \u201cHoly Roman Empire\u201d? There is also a You-Tube video sermon on this titled Germany\u2019s Biblical Origins. <\/a><\/span>
\nGermany in Biblical and Catholic Prophecy<\/a> Does Assyria in the Bible equate to an end time power inhabiting the area of the old Roman Empire? What does prophecy say Germany will do and what does it say will happen to most of the German people? Here is a version of the article in the Spanish language: Alemania en la profec\u00eda b\u00edblic<\/a>. Here are links to two English language sermon videos Germany in Bible Prophecy<\/a> and The Rise of the Germanic Beast Power of Prophecy<\/a>.
\nWho is the King of the North?<\/a> Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch 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<\/span>? 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? In the Spanish language check out \u00bfQui\u00e9n es el Rey del Norte? <\/a>Here are links to two related videos: The King of the North is Alive: What to Look Out For<\/a> and The Future King of the North<\/a>.
\nThe Great Monarch: Biblical and Catholic Prophecies<\/a> Is the \u2018Great Monarch\u2019 of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ?<\/a> and Great Monarch in 50+ Beast Prophecies<\/a>.
\nSatan\u2019s Plan<\/a> Does Satan have a plan? What is it? Has it already been successful? Will it be successful in the future? Here are links to a two-part sermon series: What are Some of the Parts of Satan\u2019s Plan?<\/a> and Satan\u2019s Plan is More Dramatic than Many Realize<\/a>.
\nFour Horsemen of the Apocalypse<\/a> What do each of the four horseman of the Apocalypse represent? Have they began their ride? Did Jesus discuss the any of this? Might their rides coincide with the “beginning of sorrows? Do they start their ride prior to the Great Tribulation? Did Nostradamus or any other ‘private prophets’ write predictions that may mislead people so that they may not understand the truth of one or more of the four horseman? There is also a related YouTube video titled Sorrows and the Four Horsemen of the Apocalypse<\/a>.
\nFourth Horseman of the Apocalypse<\/a> What is the pale horse of death and pestilences? What will it bring and when? Here is a link to a related sermon: Fourth Horseman, COVID, and the Rise of the Beast of Revelation<\/a>. Here is a version of that sermon in Spanish: El Cuarto Caballo, El COVID y El Surgimiento de la Bestia del Apocalipsis<\/a>. Some shorter related videos may include Amphibian Apocalypse: Threat to Humans?<\/a> and Zombie Deer Disease is Here! Are the 10 Plagues on Egypt Coming?<\/a> Here is a version of the article in Spanish: El cuarto jinete de Apocalipsis, el caballo p\u00e1lido de muerte y pestilencia<\/a>.
\nWhen Will the Great Tribulation Begin? 2021, 2022, or 2023?<\/a> 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? Here is a version of the article in the Spanish language: \u00bfPuede la Gran Tribulaci\u00f3n comenzar en el 2020 o 2021? \u00bfEs el Tiempo de los Gentiles?<\/a> A related video is: Great Tribulation: 2026 or 2027?<\/a> Here is a video in the Spanish language: Es El 2021 el a\u00f1o de La Gran Tribulaci\u00f3n o el Grande Reseteo Financiero<\/a>.
\nIs a Great Reset Coming?<\/a> Klaus Schwab of the World Economic Forum has proposed a societal change that has been basically endorsed by the Vatican and many world leaders. Does the Bible prophesy a major reset? Here is a link to a related video: Will there be a “Great Reset”?<\/a>
\nThe Times of the Gentiles<\/a> Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles<\/a>.
\n<\/span><\/span><\/span><\/p>\n

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European Central Bank, Frankfurt (Eric Chan) COGwriter ZeroHedge (AP) posted the following: “Rapidly Becoming Untenable” – Eurozone Finances Have Deteriorated August 28, 2021 Despite negative interest rates and money printing by the European Central Bank, which conveniently allowed all Eurozone member governments to fund themselves, having gone nowhere Eurozone nominal GDP is even lower than […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-70832","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/70832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/comments?post=70832"}],"version-history":[{"count":5,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/70832\/revisions"}],"predecessor-version":[{"id":70870,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/70832\/revisions\/70870"}],"wp:attachment":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/media?parent=70832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/categories?post=70832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/tags?post=70832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}