By Noel Haynes
The European economy continues to self-destruct.
The merchants of the world were watching with baited breath last Friday for some word from the European summit that would reassure them .
The solution proposed consisted of getting the 27 EU nations to agree to imposed fiscal and budgetary austerity measures that would meet Germany’s conditions for allowing the European Central Bank to ease the money supply. Unfortunately, getting agreement will be both lengthy and iffy, (Britain already said no), besides which, additional austerity measures would simply exacerbate the problems for the PIIGS economies which are already in recession. In any case, it wasn’t sufficient to restore investor confidence, and the pall of doom and gloom hovering over Europe deepens.
Greece requires another 200 billion dollar bailout, even after having her loan burden cut in half, and she is facing imminent default. The banks that took a fifty percent write down on Greek debt are now required, in addition, to increase their capital reserves by 150 billion dollars.
The countries of Italy, France and Spain together must raise 20 billion dollars per week through 2012 just to service existing debt.
The outlook for Europe is deteriorating week by week.
For those of us relating current world events to Bible prophecy, the other hot spot of course, is the Middle East. The events of the past week are sobering, to say the least.
American foreign policy under Obama, vis a vis Israel and the Islamic world, has been an unmitigated disaster.
In effect, that policy has been to insult Israel, arm her enemies, make nice to the Islamic world, support the Arab Spring, gently persuade Iran to stop making nuclear weapons, and ask her nicely to return the downed drone.
So far the results are Shariah governments being installed in Tunisia, Egypt and Libya, Iran negotiating with Russia and China to trade top secret drone technology for military and diplomatic assistance, Israeli leaders talking openly about the need to take out Iranian nukes, Iran threatening to destroy NATO’s missile sites in Turkey and ready to launch a test operation to close the Straits of Hormuz. Syria staging massive war games in the north and continuing the genocide of her own people in defiance of international pressure . Turkey threatening to invade Syria, the American Sixth Fleet doing exercises off the Syrian coast, Russia with two frigates anchored off Tartar in Syria alongside the three guided missile frigates she sold to Syria in November, and waiting to rendezvous with Russia’s aircraft carrier and support vessels on their way to join them. The last American troops are leaving Iraq, with some of them being diverted to Jordan just south of the Syrian border.
Zechariah 12: “On that Day, —- I (God) will gather all the nations of the world against Jerusalem”
Its interesting to note that ten years ago Turkey was a westernised, secular Islamic country, closely allied to the West. NATO established the Southern Europe Air Command there, with twenty -four missile bases. In the last election Prime Minister Erdogan was elected on a platform of moderate Islam. He wasted no time in forming a hard line Islamist regime, cut off diplomatic ties with Israel, and began a variety of diplomatic initiatives designed to place him at the helm of a revived Ottoman Empire. He is rapidly developing a reputation as a radical Islamic egomaniac.
Its also interesting to note that apart from Iran and North Africa, the people groups named in Ezekiel 38 were associated in ancient times with the area which is now Turkey. And Turkey lies directly north of Israel.
A final interesting note, and I don’t know what the significance is , if any, is that all the seven churches addressed in the book of Revelation were located in what is now Turkey.
The King is Coming! He is Coming Soon!