Cameron Warns of Perilous Economic Times

Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

Greeks are making their concerns and fears known with their bank withdrawals.  Bank officials are possibly looking at an all-out bank run. Since this past weekend, withdrawals from Greek banks have been 650 million euros a day. That’s 8 times the norm. The European Central Bank has cut off lending to four or more Greek banks, setting off speculation that fear is turning into panic. Collapse could occur in days unless the panic subsides and viable solutions are found.

France is under a dangerous delusion that the way out of their financial problems is to spend and borrow. However spending and borrowing is not the solution it is the problem. Prime Minister Cameron of England says the Eurozone crisis is “harming our economy.” Economists warn the Eurozone crisis could lead to a ten year slump across Europe.

Cameron warned of “perilous economic times,” as he spoke to major European nations to either take responsibility for the monetary union or allow it to break up. In other words, “make up or break up.” The euro-zone is at a crossroads.

Yesterday the Bank of England governor Sir Mervyn King warned that the euro-zone seemed to be “tearing itself apart.”

Mr. Cameron told an audience of business leaders, “Turn on the TV news and you see the return of a crisis that never really went away.”

Greece is on the brink of disaster and the survival of the euro is in question.







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