Tag: Greece

Greenspan: Only Resolution To Euro Crisis Is ‘Political Union’

Chris Perver 90x115by Chris Perver

Alan Greenspan, former chairman of the US Federal Reserve Bank, has stated in an interview with the Financial Post that the only resolution to the current crisis in the European single currency is the political union of the members of the eurozone. He warned that the eurozone is being pulled apart by divergent economies, with more competitive northern states like Germany having to subsidize the less competitive ones in the south. Normally a country is able to devalue its currency in order to increase its competitiveness with more developed economies abroad. But locked into the value of the euro, Greece has had no option but to incur massive debts just to keep its economy running. Now the level of debt is spiralling out of control and financial experts are predicting that Greece may be forced out of the eurozone or the project will inevitably collapse.

Greek Tragedy Now Playing…

Terry James 90x115by Terry James

The Iliad and the Odyssey of the unknown Homer–the many tragedies that spun from Aeschylus, Sophocles, Euripides, and other of the ancient Greek playwrights–are but shadowy scripts of insignificance in the end-times stage lights that illuminate our headlines hourly these days. Gripping reality in the land that gave us the stories of the likes of Oedipus, Agamemnon, Prometheus, and, of course, of Zeus, Aphrodite, Hercules, and all that make up the Greek fictional accounts present movement toward tragedy with a far more bitter ending than any in mythology.

It is not tragedy for the Greeks alone of which I write. The stage is set to bring the whole world to the prophetic destiny laid out in Bible prophecy. When considering the roots of the continent of Europe, most first think of Italy or the center of that great empire, the city of Rome. The other state that most often comes to mind when thinking on where Europe began is Greece and its ancient center, Athens.