European Union Could Face Credit Downgrade

Revelation 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>“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>

The European Union’s Aaa credit rating became endangered on Tuesday when credit ratings agency Moody’s changed the EU’s outlook to “negative.” Moody’s attributed the move to the negative outlook on ratings connected to the EU’s most key contributors to income.

Earlier this year, Moody’s placed Germany, France, the Netherlands and the United Kingdom into a negative economic outlook meaning those individual countries could soon face a downgrade in their credit status. All four countries currently have a Aaa rating.

Moody’s said that if an individual member nation were to get into a place of “extreme stress” they would manage their own debt before obligations to the European Union.

“Hence, it is reasonable to assume that the EU’s creditworthiness should move in line with the creditworthiness of its strongest key member states,” Moody’s report stated.

Germany, France, UK and the Netherlands account for 45% of the EU’s revenue.