Revelation 6:5-6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
<blockquote>“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>
</blockquote>
The economy of the Eurozone shrank .2% in the second quarter of the year compared to the previous quarter. The economies of the full 27 European Union member nations also fell .2% during the second quarter.
The Eurozone and the EU are technically not in a recession due to the definition of recession requiring two straight quarters of negative growth and the first quarter of the year had zero growth. However, economists are pessimistic about the rest of the year and believe a recession is likely.
Italy, Spain, Greece, Cyprus and Portugal are individually in an economic recession.
Germany remains the strongest economy in the European Union with growth of .3% in the second quarter. Greece continues its rapid decline with a 6.2% contraction in the second quarter.
However, experts note Germany’s economy is dependent on exports and so the decline in the economic decline of their neighbors will eventually impact the German economy.
