Business Activity In Europe Hits Three Year Low

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!"

<blockquote>“If your hope is in this world, get ready for the ride of your life.  The material systems of this world, the harlot of Revelation, are about to be destroyed!”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>

A survey is showing that business activity in Europe has fallen to a 35-month low. In response, 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.


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