On July 5th 61% of the Greek people voted no in a national referendum, rejecting the latest offer for a bailout package from the leaders of the European Union. This could be Germany’s turn to say no.
Contrary to the news headlines being circulated last week and again today, no deal has been reached between Greece and their creditors. I was amazed to see the outright lies posted by some of the world’s largest news sources, claiming a new deal was finally reached. I call them lies because there is no way they don’t know what is really happening. Anyone can easily read beneath the surface to see we are a very long way from a deal and there is a good chance it won’t happen. The only agreement reached so far was the one between the European finance ministers who agreed to enforce extremely harsh measures on Greece. After coming up with their list of extreme mandates on Saturday, they met again on Sunday, but not to discuss a new bailout deal. They met to discuss how to handle the coming Greek exit from the Eurozone.
News reports that the Greek government has already agreed to the extreme mandates are false because the Greek Parliament has not even voted yet. They have been given a deadline of Wednesday July 15 to pass all of them into law. Already there are reports that many Greek lawmakers will vote no. However, even if they somehow clear this hurdle and pass everything, there is still no deal. That would just qualify them to begin negotiations for a new deal without any guarantees that an agreement would be reached.
One big problem is the cost of the bailout keeps growing with each passing day. Late last week the bailout cost was estimated at 50 billion euros. Now the price has already gone up to 86 billion euros. Greek businesses are shutting down as they are running out of supplies are raw materials. They are unable to import new supplies due to capital controls preventing payments to any foreign accounts. By some estimates, the losses suffered during the past two weeks are already in the range of 25-50 billion euros and accelerating as the situation continues to worsen. They are experiencing an economic melt-down.
Another big problem is German Finance Minister Wolfgang Schauble appears to be doing everything in his power to force Greece out. Just looking at his picture shown above, would you want to negotiate with this guy? He drafted a letter listing two options for Greece. Either sign over $50 billion in assets to a third party agency in Belgium as collateral or exit the Eurozone for at least five years. $50 billion in assets is a big stretch for a small nation whose banks are currently shut down and running out of cash within the next 48 hours. Even the IMF called his demands unreasonable.
The Germans are not alone in their efforts to force Greece out, but as Europe’s largest economy they have tremendous influence in these negotiations. It appears they are now looking for a way to stop the bailout package without getting blamed for it. No one wants to be blamed for forcing the Greek exit because the humanitarian conditions there could soon get very ugly.
The threat to basic needs in poorer European countries is exactly what professional violinist Maurice Sklar saw coming when he posted a prophetic warning on his website back on December 1 2011. I have shared his warning in other posts, but it is worth repeating here because it appears we are very close to seeing the fulfillment. He saw the collapse of the euro will happen when “Germany will refuse to prop up the euro any more.”
There is an even greater financial disaster that is falling upon Europe that will collapse the euro, cause panic and chaos there. Germany will refuse to prop up the euro any more. Basic needs in the poorer European nations will be threatened. Many will lose their money overnight as the stage is set for the financial takeover of the Antichrist system. This is imminent, and the dollar will also follow, although it will survive for a season more.
We might not have to wait much longer to find out the fate of Greece’s bailout package. Even if the Greek parliament approves the mandates by Wednesday, another hurdle comes this Friday when the German parliament is expected to vote on it. The German parliament must approve the entire program before any loan negotiations can begin. A no vote could give German Chancellor Angela Merkel the out she needs to kill the package without taking the blame.
So Maurice Sklar’s prophetic warning could be fulfilled very soon. This could be the time when Germany says no. If it is, the collapse of the euro will not be far behind.
Author: James Bailey
James Bailey is a blogger, business owner, husband and father of two grown children. In 1982, he surrendered his life to the Lord Jesus Christ. In 2012, he founded Z3news.com to broadcast the message of salvation by reporting end time news before it happens.
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