Greece faces 'massive' loss of sovereignty

Prophecy Sign: The Revived Roman Empire

When the European Union was establish back in 1957 and subsequently grew to 10 nations some years later, most bible prophecy experts pointed at the E.U. and declared that it was the 10 toed fulfillment of the vision of Daniel the Prophet's end-time world empire. However the E.U. subsequently grew to 27 nations which then messed with everyone’s interpretation of bible prophecy. So now what?

Some are now coming to the conclusion that the European Union will in fact be just the start of a global 10 toed monstrosity that will rule during the Tribulation period. This is the current interpretation of bible prophecy that experts such as Jack Van Impe have, and is also our belief as well.

It has been our contention for some time that the current European Union will morph into a more centralized form of governance with each member state giving away much of their sovereignty on such issues as finance and economics. This will play right into a future world leader being able to rise up from this entity to take control of world finances and the global economy. Just as prophecy foretells.

He gave me this explanation: ‘The fourth beast is a fourth kingdom that will appear on earth. It will be different from all the other kingdoms and will devour the whole earth, trampling it down and crushing it. The ten horns are ten kings who will come from this kingdom. After them another king will arise, different from the earlier ones; he will subdue three kings. He will speak against the Most High and oppress his holy people and try to change the set times and the laws. The holy people will be delivered into his hands for a time, times and half a time. Daniel 7:23-25 NIV

From the articles:

Eurozone finance ministers over the weekend staved off looming bankruptcy in Greeceby agreeing to release the next tranche of aid to the country, but Athenswill pay with a massive loss of its sovereignty, the eurozone chief has said.  In return for the €12 billion - the fifth payment from the €110 billion EU-IMF loan agreed last year - Greecewill have to push through a swathe of privatisations reminiscent of the selling of East German firms in the 1990s after the fall of Communism. "The sovereignty of Greecewill be massively limited," Jean-Claude Juncker told Germany's Focus Magazin in an interview published on Sunday (3 July), just hours after the eurozone ministers reached agreement.

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Moody's investors service cut Portugal's credit rating to "junk" status Tuesday, despite the country's efforts to work out its money problems in May with a bailout package. The ratings agency warned that Portugalwill likely follow Greecein needing a second rescue package. The Moody's downgrade triggered new outrage in Portugal, where austerity measures over the past year have included tax hikes, pay freezes and welfare cuts. One analyst told Reuters that the problems in Greecemay be repeated in Portugal.Greece faces 'massive' loss of sovereignty

http://euobserver.com/9/32582

Moody's downgrades Portuguese debt to junk

http://www.telegraph.co.uk/finance/financialcrisis/8619228/Moodys-downgrades-Portuguese-debt-to-junk.html

Portugal Adds Momentum to European Debt Crisis

http://www.cbn.com/cbnnews/finance/2011/July/Portugal-Adds-Momentum-to-European-Debt-Crisis/