Good morning on this Saturday, the 12th of November. If you are watching the news headlines, you are well aware of the financial crisis boiling over in Europe. Several European countries are broke, meaning they owe considerably more money than they are able to pay resulting in the threat of national bankruptcy. Greece has been the primary focus until the past week when Italy's financial problems reached full focus on the European financial radar screen. Italy is the third largest European nation economically behind Germany and France. Unlike Greece, which has a more modest budget, Italy's default would have a more massive impact upon all of the other European nations and banks. Added to the financial problems of Greece and Italy is the threat of default by Portugal and Spain which would compound Europe's financial problems and produce dire consequences. Simply speaking these nations have spent more than they have taken in for far too long and are now suffering the consequences of their irresponsible financial practices. If these nations default it would leave numbers of European banks and debt holders holding their bonds which would be worth pennies on the dollar - a financial haircut many investors want to avoid at all cost. The leaders of Germany and France have led efforts to rescue these nations from financial collapse but their efforts are becoming tiresome to their constituencies who are increasingly bulking at rewarding these nations for their irresponsible ways. Many are warning about throwing good money after bad. Some are demanding that these countries be removed from the Euro zone (nations which use the Euro as currency) and that the European Union be completely reorganized and realigned. All this means that Europe as we know it is and will be changing. That could have far-reaching consequences on the fulfillment of Biblical prophecy if it relates to the Antichrist and his future revived Roman Empire supporters. We'll keep you posted as these events unfold in Europe.
Tomorrow will be the final sermon in the My God Is Real series. The sermon will focus on remarkable answers to prayer. I'll look forward to seeing you in the services.
Mel Brown