EU Presents Vision Of “Monetary Union”

Rev 6:3-4 NCV When the Lamb opened the second seal, I heard the second living creature say, "Come!" Then another horse came out, a red one. Its rider was given power to take away peace (prosperity, rest) from the earth and to make people kill each other (butcher, slaughter, to maim violently, in streets), and he was given a big sword (assassins sword, terrorist, loud, mighty, sore afraid).

“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”

-Jim Bakker in “Prosperity and the Coming Apocalypse”

A creation of a European treasury is one of the key components of a new plan to create a monetary union for the members of the euro zone. The European treasury would have power over the budgets of individual countries.

“[This is] a defining moment for European integration,” European Commission President Jose Manuel told reporters.

The plan was created by presidents of the European Commission, the Eurogroup and the European Central Bank. A statement from the group said that the presented ideas were not the “final blueprint” but an attempt to get a common understanding before the EU Summit on Thursday and Friday.

One of the biggest changes will be the power of the European treasury to force changes in the budgets of individual members countries. Previously, the regulations just required the member nations to keep debt below a certain level but could not force any changes unless the member nation requested a bailout.

BBC Europe editor Gavin Hewitt stated that this proposal might not fly because of conflicts between France and Germany.

“There is a deep philosophical and political divide between them,” Hewitt said.

 

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