A Major World Economic Crisis is now looming just ahead.  The Euro has just been bailed out of a comparatively small crisis; a much bigger event is coming that will threaten the whole world's economic systems

When a currency like the Dollar is controlled by the policies of one nation; it is still difficult to control economic realities.  When a currency like the Euro is affected by the policies and economic realities of many nations; some very weak and some strong: economic control is impossible.  The Euro is a house divided against itself and ultimately it cannot stand.

It was necessary for the US Central Bank to support the Euro with hundreds of billions of Dollars in an effort to save the Euro this time.  The German Chancellor, Mrs. Merkel; is in trouble over German unhappiness with supporting the weaker Euro nations.  

It is understood by all that the underlying cause of the Euro’s problems must be corrected.  The underlying cause is the lack of a central authority with full powers to control the currency and the economic policies of the Euro member states.

Amendments to the Lisbon Treaty are being studied to build a centralized control over the Euro within the European Union.  While paying lip service to the need to defend the Euro; the new British government is declaring that they will NOT give up any more sovereignty and will not agree to any changes to the Lisbon Treaty.  It is also unlikely that all of the other EU States would be willing to submit to overall control of their economic policies.

Everyone knows that the Greek crisis was just the beginning.  A short time has been purchased to find a solution before the crisis spreads.  If a solution is not agreed to; the coming crisis will take down the Euro; and the EU itself will not survive such an economic collapse.

The Dollar and the Euro are so intertwined at this time that a collapse of the Euro would also bring down the hyperinflated Dollar as well.

Time is short indeed; as all sides are preparing for another Middle East war in the August/September time frame.  Whether such a conflict comes this year or sometime later; it may last for as long as four to six weeks and will likely threaten the Persian Gulf petroleum shipping route.  The cost of petroleum products can be expected to soar.  Fears of shortages would start a Stock Market panic in Asia; which would quickly spread.

The next economic crisis is close at hand. This crisis will be used to establish a new world economic system: with a new World Reserve Currency. 

Meanwhile the European Union will be shaken to its foundations and a New Order will arise in Europe. During such times of crisis the masses turn back to their religion.  A miracle working Pope will call for a new Order in Europe; based on the Holy Roman Empire model of a central authority over economic and military/foreign affairs and national autonomy over each country’s domestic concerns.

Many nations, such as Britain; will not be willing to give up their national sovereignty and join this new entity: which is prophesied to include only ten nations: the ten toes of the Holy Roman Empire, Dan 2:40-44.