Though Mr. Greenspan does not believe his solution for the survival of the euro will materialize, it is exactly in line with prophecy. The Bible foretells of the coalescing of a German-led European union into 10 distinct nations and/or blocs, which will be the end-time beast power.
One of the reasons the EU fought so hard to work with Greece, was to not appear weak either at home or abroad. With a “Grexit“, other countries may follow suit and leave, thus precipitating the number of nations involved pare its way down to requisite number to fulfill prophecy.
However these events may transpire, the one thing that we know for sure is that God’s word will be realized.
The former head of the US central bank, Alan Greenspan, has predicted that Greece will have to leave the eurozone.
He told the BBC he could not see who would be willing to put up more loans to bolster Greece’s struggling economy.
“The [bailout] conditions with Greece were generous, beyond all measure,” German Finance Minister Wolfgang Schaeuble said last week. He saw no justification for relaxing them further.
Greece wants to re-negotiate its bailout, but Mr Greenspan said “I don’t think it will be resolved without Greece leaving the eurozone”.
Mr Greenspan said: “All the cards are being held by members of the eurozone.”
“I believe [Greece] will eventually leave. I don’t think it helps them or the rest of the eurozone – it is just a matter of time before everyone recognises that parting is the best strategy.
“The problem is that there there is no way that I can conceive of the euro of continuing, unless and until all of the members of eurozone become politically integrated – actually even just fiscally integrated won’t do it.”
He also warned that trying to hold the 19-nation euro bloc together “is putting strain on everybody”. He said as well as Greece leaving the eurozone, there was a real risk of a “much bigger break-up” with other southern European countries forced out.
Alan Greenspan has long been a critic of the European single currency. Now, the 88-year-old former chairman of the US Federal Reserve has repeated a claim that nothing short of full political union – a United States of Europe – can save the euro from extinction.
Given that few (if any) of the current 19 sovereign governments which make up the eurozone would choose to create such an entity at this time, that means – for Greenspan at least – the euro is doomed.
Before all that, though, he foresees Greece quitting the single currency, but the euro surviving intact. Grexit, he says, is more manageable now than it would have been when Greece got its first EU bailout in 2010.