Greece rejects debt restructuring

Prophecy Sign:  Continued volatility in the global economy, leading to a future collapse and implementation of the financial world order of the Antichrist.

More evidence of the fragile sovereign debt situation that exists in the European Union.  Greece, Ireland and now Portugal have all required bailouts to prop up their shaking financial situations.  The next on the list is Spain, which will take far more billions of Euros than that of the previous three bailout nations.

But it's not just the EU that is on shaky grounds.  Japan has a huge sovereign debt problem which has resulted in years of sagging growth.  And America with its 14 trillion dollar debt and attempts at monetizing the debt is slowly crashing the once mighty green-back.

Soon the entire house of cards will come crashing down, which will then allow the global elite to implement their plans for a new financial/economic world order. This new economy will then be hijacked and taken over by a future world leader that we know as the Antichrist.  This man of sin will then force each person to accept his mark in order to participate in this new economy.  (Read Revelation 13 for more information).

From the articles:

Greece insisted on Tuesday any restructuring of its debts would be a disaster for the economy, but financial markets continue to view it as likely and are betting that the euro zone debt crisis will worsen.

A year and a day since the EU and IMF agreed to extend Greece 110 billion euros ($163 billion) in loans in exchange for deep structural adjustments to its economy, the finance minister again dismissed growing suggestions that Athens will have to restructure its debts, which are set to hit 150 percent of annual output, or around 340 billion euros, this year.

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Portugal has agreed a three-year, ¤78-billion ($110billion) bailout with the European Union and IMF, caretaker Prime Minister Jose Socrates said on Tuesday. The Socrates government collapsed last month, sparking a sharp rise in borrowing costs that forced Lisbon to seek a bailout -the third eurozone country after Greece and Ireland to do so.

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Before the latest European and IMF reassurances on Ireland, one of the big three credit-rating agencies cut its grade on Ireland citing the risk of lower-than-expected growth, higher unemployment and future banking shocks. Moody's dropped Ireland two notches to Baa3, one grade above junk-bond status — and kept the country on a negative watch for a potential further downgrade.

The other two agencies are less pessimistic. Fitch on Thursday said it was keeping Ireland's score at BBB-plus, three grades above junk, with a negative outlook. Standard & Poor's on April 1 downgraded Ireland one notch to BBB-plus but raised its outlook to stable.

Greece rejects debt restructuring
http://cnews.canoe.ca/CNEWS/World/2011/05/03/18096256.html

Portugal signs for $110B bailout

http://www.nationalpost.com/news/Portugal+signs+110B+bailout/4722208/story.html

EU, IMF say Ireland has passed 1st bailout test

http://www.msnbc.msn.com/id/42602891/ns/business-stocks_and_economy/