"אם התקווה שלך בעולם הזה, get ready for the ride of your life. The material systems of this world, הזונה של התגלות, עומדים להיהרס!"

-ג'ים באקר ב "לשגשוג אפוקליפסה בא"

A survey is showing that business activity in Europe has fallen to a 35-month low. בתגובה, the euro fell to a 22-month low against the US Dollar.

European leaders failed to reach an agreement on how to handle the crisis as a proposal by French President Francois Hollande for pan-European bonds was opposed by German pending “more economic discipline” across Europe.

The report from Markit also showed the current economic struggles in Greece having a much deeper impact across Europe than previously believed by economists. The manufacturing levels at German and French factories fell to their lowest point in almost three years.

The European economic downturn “gathered further momentum in May,” Chris Williamson, Markit Chief Economist, stated in the report. “An increasingly steep downturn in the periphery infects both France and Germany.”

The economic uncertainly is also impacting government bonds as investors are seeking safer investments. The interest rates on 10 year UK and German government bonds fell to record lows.