In the beginning was the Word, and the Word was with God, and the Word was God. He [Jesus Christ -Yeshua] was in the beginning with God.

The European Union considering a Eurozone chief and stronger fiscal unity

The European Union is the partial fulfilling of prophecy described as a seventh kingdom revealed by Christ to the Apostle John in book of Revelation. Fulfillment of this prophecy will be complete when the Antichrist rises to power and consolidates his rule over the seventh kingdom. We are living in the time of transition as the European Union struggles with its financial debts and identity.

The European Union is a product of evolution that has been ongoing since the end of the Second World War. The desire for a pan-European democratic institution was the result of the devastating effects the war had on Europe. The diverse geopolitical and economic post-war landscape of Europe was feared to be a latent seed for sprouting another war if Germany remained independent and communism was not contained. In order to promote peace and economic stability in democratic Western Europe, the 1951 Treaty of Paris established the six-nation European Coal and Steel Community. The member nations included Germany, Belgium, France, Holland, Italy and Luxembourg. In 1957, the Rome Treaties created two additional communities: the European Atomic Energy Community (EURATOM) and the European Economic Community (ECC). The Merger Treaty of 1957 merged the three communities into an institution known as the European Communities. The Maastricht Treaty of 1992 became the core treaty that eventually established the European Union. By this time, a total of twelve nations had become members. The significance of this treaty cannot be overstated. It laid the groundwork for expanding the economic and political integration of Europe. European citizenship was introduced in 1993 and laws were being implemented that overrode local laws of member states. The single currency Euro was introduced in 1999. The Convention on the Future of Europe was formed in 2002 to move the European Union closer toward a constitution that would allow the establishment of a President, a Foreign Minister and a Charter of Rights. These efforts were rejected by France and the Netherlands in 2005. Eventually, a modified framework was ratified by the Lisbon Treaty in 2009. The goals were the same, but the path of implementation would proceed through the existing bodies of the European Union. By this time, a total of 27 nations had become members of the European Union. Herman Van Rompuy became the first president of the European Council, and Baroness Ashton became the High Representative for Foreign Affairs. By January 1, 2011, 17 nations had adopted the Euro as their common currency and sole legal tender in the economic and monetary union known as the Eurozone.

Today, the Eurozone is in a debt crisis and it is not alone. Including America’s debt, the whole world is wedged in a global debt crisis. Unlike America, however, the fundamental problem for the Eurozone is that while it is a monetary union, it is not a fiscal union. Member nations have sovereign authority to establish their own budgets and make amendments to their constitutions regarding fiscal policy without direction from a central authority. Consequently, there is no one in charge to guide the Eurozone toward a fiscal solution to the crisis. When economic times were good, there was no reason to seriously address the chink in the Eurozone’s fiscal armor. Eurozone members are now not only slow in responding to the debt crises but also at odds in determining how to best find a solution. There are basically four broad-based plans being considered either separately or combined: increasing the source and size of the rescue funds and defining roles for the International Monetary Fund (IMF), the European Central Bank (ECB), the European Financial Stability Facility (ESFS) and the European Stability Mechanism (ESM); restructuring Greek debt and building a financial firewall around Greece, Ireland and Portugal to prevent contagion to Italy and Spain; providing more power to the European Union to establish fiscal policies and discipline member states who violate the policies; recapitalizing banks or issuing Eurobonds to spread the costs and risks across all member states.

The common denominator in the plans is the requirement, more or less, of closer political and economic cooperation. The leaders of Germany and France agree that there should be mandatory balanced budgets and a greater coordination of economic policy. They suggested that the heads of Eurozone states elect a president of a new economic government. This would require Eurozone states to give up some degree of economic sovereignty. There is a growing consensus that a closer union is the only path to the Euro’s survival. German Chancellor Angela Merkel stated that as part of a long term strategy the European Union should not shy away from changing its treaty to create closer coordination of fiscal and economic policies. The 2002 Convention on the Future of Europe would have provided a more pliable framework for this, whereas the 2009 Lisbon Treaty made it more difficult to implement. It is becoming strikingly evident from the Eurozone’s debt crisis that a monetary union without a fiscal union will not work. European integration is progressively moving toward a tighter federation of states.

The magnitude of European integration is unprecedented in modern history. It can be compared only to the level of integration by the Roman Empire. The prophet Daniel prophesied the rise of both empires: the ‘ancient’ Roman Empire and the ‘revised’ Roman Empire, which will not be a ‘revived’ ancient Roman Empire with Rome as the central seat of power. Daniel described the ‘ancient’ Roman Empire as ‘the legs of iron with feet of iron and clay’, and the ‘revised’ Roman Empire as ‘the fourth beast’. In the book of Revelation, the Apostle John described the ‘revised’ Roman Empire as a ‘beast’. He described the beast as a ‘seventh kingdom’ under the authority of a most powerful king [the Antichrist]. This prophecy has been partially fulfilled today in the form of the European Union and its Eurozone. The prophecy will be completely fulfilled when the European Union transforms to a unified kingdom [federated union] with ten kings [leaders] and the Antichrist rises to power over these ten kings [leaders]. It is important to understand that the use of the words ‘kingdoms’ and ‘kings’ by the Old Testament prophets and the Apostle John was a reflection of the political systems of their times. The political systems of today are represented by nations with presidents and prime ministers. The Antichrist, the leader of the ‘revised’ Roman Empire, will usher in the Great Tribulation, which will end seven years later at the final battle of Armageddon when Jesus Christ, the Messiah, returns to earth the second time to defeat the Antichrist and reign as King of Kings over the nations of the world.

The European Union today is a precursor to the eventual European ten-state federated union. Believers might be lured to sleep by thinking that the European Union’s ultimate transformation to a federated union will take a long time. As a sobering reminder, we need only to consider how quickly the geopolitical map of Europe changed when European communism vanished in three short years between 1989 and 1991. Who would have thought before then that Russia would rise quickly from the economic ashes of the former Soviet Union to fulfill prophecy as one of the Four Kings of the end time? Like the economic collapse of the Soviet Union, the debt crisis in Europe will ultimately reshape Europe and lead to a reconstitution of the European Union into a ten-state federated union, a seventh kingdom, thus setting the stage for the future rise of the Antichrist and final fulfillment of prophecy in our age. Unlike the Soviet Union, however, the European Union will not permanently disintegrate back to its former independent states any more than the debt crisis of America will cause its federated union to disintegrate back to its colonial territories. The only question now is how and when will the European Union transform to a ten-state federation? The Bible does not give us details, and God does not ask us to speculate. When the disciples approached Jesus and asked, “Tell us, when will these things happen? And what is the sign of your coming and of the end of the age?” Jesus told them, “Now concerning that day and hour no one knows – neither the angels in heaven, nor the Son – except the Father only. This is why you also must be ready, because the Son of Man is coming at an hour you do not expect." [Matthew 24:36,44 (HCSB)]