Eurozone teeters on the verge of a 'euroquake' if Greek default is bungled

Prophecy Sign:  The collapse of the global economy and the implementation of the New World Financial order of the Antichrist.

It's very likely that an economic collapse of epic proportions will occur in the very near future, (many market watchers are even saying in the next 12 month). This collapse of the markets and financial systems of the world will bring about the necessity of a brand new financial world order that will be the vehicle that will allow the Antichrist to take control of the world. He will then force his "mark" upon the world which will be the only way the peoples of this world will be able to participate in day to day commerce. But by accepting this "mark", they will have consigned themselves to an eternity separated from God, with no hope of reconciliation or redemption.

He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead, so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name. Revelation 13:16-17 NIV

From the articles:

More than one in three international investors expect a global economic meltdown within the next 12 months, according to a new Bloomberg poll. Far more - almost 70pc - say the world economy is deteriorating, up from just 18pc four months ago. The eurozone – an economy second in size only to the US – is on the brink of a double-dip recession. This grim prognosis, though, is set against a more hideous backdrop – the danger of a "euro-quake". Greece will default. The only question is how the default is managed – indeed, if it is managed at all. A bungled Greek payment failure will spark "contagion", as spooked creditors pull the plug on some big eurozone government, leading to non-payment of wages and benefits, serious social unrest, and a single currency break-up. We face the very real prospect of a major economic shock, the negative impact of which will be felt around the world.

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European stocks slumped and the euro hit lows last seen in January on Monday after Greece said it would not meet deficit reduction targets this year and next, putting even more pressure on the eurozone. European markets were down more than 2.0 percent as banks tumbled on the first trading day of the fourth quarter after Greece said the 2011 budget deficit would come in at 8.5 percent of GDP, well short of its 7.4 percent target.

The acknowledgement by Greece on Sunday that it would miss its deficit targets raised further uncertainty over whether its fresh budget cuts would be enough for it to secure the next tranche of its multi-billion euro bailout. Athens needs the payment to avoid bankruptcy next month.

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The global financial system is on the edge of a new credit crunch as the cost of insuring the bonds of banks across the world hits new highs, analysts have said. Credit default swaps on lenders as far afield as China and Australia, countries that until recently seemed immune to the chaos, have doubled in the last two months to levels not seen since the financial crisis. "The money ran out in June and what you are seeing now is the beginning of a new credit crunch, except this time it will be truly global, not Western," said one senior London-based credit analyst.

European stocks and euro dive amid Greece fears

http://ca.news.yahoo.com/european-stocks-euro-dive-amid-greece-fears-140940602.html

Banking crisis set to trigger new credit crunch

http://www.telegraph.co.uk/finance/financialcrisis/8802846/Banking-crisis-set-to-trigger-new-credit-crunch.html

Eurozone teeters on the verge of a 'euroquake' if Greek default is bungled

http://www.telegraph.co.uk/finance/comment/liamhalligan/8801314/Eurozone-teeters-on-the-verge-of-a-euroquake-if-Greek-default-is-bungled.html