A Biblical Perspective on the Current BP and Euro Crisis

It is our prayer that the trouble between the US and England will not interfere with travel visa for Americans. The British are quite angry at the attitude of the US government with respect to BP. This is just the latest incident in which our government has either insulted the United Kingdom or has acted against it. While the people of the gulf have suffered greatly because of this accident, we must not forget that many bear responsibility, including our own government. The impact of this accident could be far reaching. For the Brits who own 60% of the BP stock (mostly as part of their retirement portfolio), it could be a severe blow if the company went bankrupt. Also, 40% of the stock is owned by Americans, in similar circumstances. The economic disaster could be as great as the environmental disaster. We must pray for all who are affected by this accident, both in the US and abroad.

"The economic disaster could be as great as the environmental disaster. We must pray for all who are affected by this accident, both in the US and abroad."

Economics are certainly in the news today. I continue to find articles that speak of the demise of the European Union (EU) owing to the Euro crisis. As many have asked for an updated comment, I submit the following thoughts:

Some background: The EU consists of 27 countries, with several more seeking membership. Within these 27 countries is the Eurozone (formed in 1999), a group of 16 countries united under a single currency, the Euro. Six other countries use the Euro as their currency but are not under the Eurozone governance. In the future, additional EU countries will join the Eurozone, once they meet the financial criteria. Only the United Kingdom and Denmark have opt-out agreements. But Denmark has shown some interest of late to consider using the Euro. Essentially, the long-term trend is for all EU countries and some outside the EU, to use the Euro.

While some governments have managed their public spending well, such as Germany, many have not, including Greece, Spain, Portugal, Italy, and Ireland. With growing deficits, these countries have far exceeded the Euro guidelines and are poised to default on debt payments. While Greece is best known, Spain is the real danger. Spain's debt and financial affect on Europe could be much greater than Greece (potentially five times worse).

.

"Spain is the real danger. Spain's debt and financial affect on Europe could be much greater than Greece (potentially five times worse)."

I have long held that the movement to a single world currency would assist in fulfilling the Biblical Tribulation scenario. Looking at the current news media, it would seem that a single currency will be consigned to the rubbish heap of history. And based upon historical trends, this would seem to be the end of the Euro and possibly, the EU. But we must remember that while history is linear, it is also circular in many aspects. Patterns do develop over time and can offer predictions or extrapolations for the future.

Convinced of the cyclic nature of history, many can reach false conclusions if they neglect to remember that the Bible indicates that at a specific point in time, God will break traditional patterns by removing the church and bring the world into the Tribulation era. The Tribulation era will be a time like the world has never seen; it will not be merely a cyclic pattern. Since this "breakout" of history is foretold in the Bible, I believe it will happen regardless of man's efforts. Only the "when" is unknown.

If the EU is indeed, the forerunner or embryo of the final global government of Daniel 2 and 7, then we could speculate on the outcome of this current EU crisis in light of the Scriptures. Owing to the number of emails received, I will offer my thoughts. First of all, we should point out that Jean Monnet, founder of the EU, suggested that a crisis is not to be feared by EU members, for it offers the opportunity to move ahead toward the ultimate EU goal of world governance.

The EU has had many crises and at the time of past crises, many speculated that the EU would never survive. In every case, they not only survived, but they also moved forward with great gains following the "bump in the road." A crisis is a "boon" to the EU, based upon its history. The current crisis is causing much dissention between France and Germany, the two most powerful elements of the EU. So much so, that it may bring down the German government of Merkel. Will this dissention weaken and destroy the union?

Daniel 2 relates a dream in which the statue of a man represents four successive kingdoms in history. Just prior to the Millennial Kingdom, the final form of the fourth kingdom (Roman Empire) is portrayed as: "toes of the feet were part of iron, and part of clay, so the kingdom shall be partly strong, and partly broken. And whereas thou [Nebuchadnezzar] sawest iron mixed with miry clay, they shall mingle themselves with the seed of men: but they shall not cleave one to another, even as iron is not mixed with clay."(Dan. 2:42-43).

If the EU is the embryo of the final phase of the fourth kingdom, there always will be a tension between the supra-national authority and the nationalities within it. Germany and France exemplify this very thing. This tension will always result in weakness in its day by day operation. The key is to note that even with this tension, the final form continues as a single entity to achieve the goal of worldwide rule. Hence, I believe we should expect to see weakness and tensions in the EU, even up to the point of dissolution, yet never reaching it.

.

"...there always will be a tension between the supra-national authority and the nationalities within it."

.

The President of the EU Commission (the authority), Jose Manuel Barroso, has just warned the people of the EU that unless the EU solves this crisis,"democracy could disappear" in Greece, Spain, and Portugal. He notes the recent rioting among union and public service workers when the government cut back. The same is hinted at in other countries. People never want to give up benefits granted by the government. In some countries, the public sector is seeing pay cuts of 25%. Barroso (a Portuguese) sees the fragile individual governments as creating an environment for coups and dictators.Recall that Greece, Spain, and Portugal have only been democracies since the1970's. Certainly, the fall of the USSR shows the power of public demonstrations. Deputy Prime Minister Nick Clegg (of the UK) warned that Britain could face peril if its deficit is not handled quickly.

First of all, remember the supra-authority of the EU is not democratic. The authority is not really concerned with a democratic or republican form of national governments. Democracy is a relative term that has different meanings to different people. Riots and the threat of the collapse of a single country could be eliminated or prevented by a strong central authority such as the Commission headed by Barroso. Such conditions lend themselves to a global solution by a system such as the EU. In fact, they aid in the goal of a supra-national government, for they reduce individual sovereignty.

.

"First of all, remember the supra-authority of the EU is not democratic. The authority is not really concerned with a democratic or republican form of national governments. Democracy is a relative term that has different meanings to different people."

.

Rather than an EU collapse, the world could see the decline of sovereign nations and the condensation of power in the EU government. This crisis could offer an opportunity for the EU to utilize an emergency seize of power to prevent anarchy and dictatorships, while establishing the Commission as final authority. Will this happen? Time only will tell. I have only pointed out these trends to show that which Daniel and the Apostle John speak about the end times is feasible in our day. As students of the Bible we are to be alert, share the Gospel, and prepare to serve our Lord when He comes for us.

Dr. Robert Congdon

Congdon Ministries International

A Brief Biblical Perspective on the Lisbon Treaty and the New E.U. Presidency
A Biblical Perspective On The New EU's Foreign Policy Chief On Israel's Settlements